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Ilia, 43 years old, lives in the capital city of Georgia with his wife, four children and father. Ilia requested loans from local financial institutions several times to start a family business, but with no success. His loan requests were consistently rejected due to low income and the family’s poor living conditions.

Nowadays the family is without a source of income. In the Khashuri district the family has a 2.5 hectare plot of land which has not been cultivated for years and provides only a little food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Ilia's request for a loan from Credo to start a family business has been approved within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit Ilia will purchase a milking cow and a pig as he plans to resettle in the Khasuri district and start a husbandry business. He will cultivate the land and produce dairy products after purchasing a milking cow. This will give him a chance to generate income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.

About Georgia

  • $6,100
    Average annual income
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,525 helped Ilia to purchase a milking cow and a pig.
99% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Apr 30, 2013
May 17, 2013
Currency Exchange Loss:
Dec 17, 2014