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Artur is 26 years old. He lives in Akhalkalaki district with his 21-year-old wife and an infant child. Artur requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

Artur is an artisan who works on private orders in the factories. His wife bakes cakes for birthdays. They both earn a small monthly income, which is rarely enough for food for the family.

Artur requested a loan from Credo to start up a family business. Artur 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-start-up 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, Artur wants to start canned meat production. His father-in-law gave him canned meat-producing equipment. They have a small commercial space, where Artur plans to start a business. He will purchase raw materials and jars; also print the labels and renovate the space to prepare it as a small factory.

Artur is very hardworking man, and he wants to use the chance his father-in-law gave to him and start a new family business to increase his monthly income and provide a better future for his child.

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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,912,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,800 helped Artur to start producing canned meat.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 13, 2013
May 21, 2013
Currency Exchange Loss:
Jun 17, 2015