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Vazha is 33 years old. He lives in Tbilisi, the capital city of Georgia with his wife. Vazha requested a loan from local financial institutions several times for family business start-up, but his loan request was rejected all the time, because of low income and his family’s poor living conditions.

His only source of the income is small. He works as an operator at a private company. He struggles to provide food for the family. According to Credo estimations, the family is in the subsistence poor category.

Vazha requested loan from Credo to install gas equipment in his car so he can serve local people as a taxi driver. This will increase the income of his family.

The new business initiative, financed with the Kiva loan will significantly improve the living conditions of Vazha's 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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $7,812,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Vazha to install gas equipment in his car so he can serve local people as a taxi driver.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
May 14, 2013
May 19, 2013
Currency Exchange Loss:
Apr 16, 2014