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Mirian is 25 years old. He lives in Terjola district with his wife Teona, his parents and retired grandfather. Mirian had requested for a loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected every time because of low income and the family’s poor living conditions.

The main source of income for the family is from their agricultural business. In particular, they have two milk cows and a vineyard. The cows are milked to make cheese. From the harvested grapes they make wine and vodka. All the products are sold locally at the markets. Mirian's grandfather's monthly pension is additional income for the family.

Mirian requested a loan from Credo to start a family business. Mirian has now been approved for a loan 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 Mirian will purchase stocks of plumbing equipment and open a plumbing shop. He has already rented a space in the populous area which will promote his business development. In order to decrease the expenses and increase the profit Mirian will work in the shop himself as a seller. His efforts will make the business successful and profitable and Mirian will be able to improve the family's living conditions.

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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Mirian to purchase stocks of plumbing equipment and open a plumbing shop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 14, 2013
May 20, 2013
Currency Exchange Loss:
Sep 17, 2013