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Marine is 58 years old. She lives in the small village of Zestaponi District with husband. Marine requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of the income for the family is from their agricultural activities. In particular, they have a vineyard, with 400 samples of wine trees. They produce wine and sell it at local markets at a good price. Besides that, they have a plot of land where nut trees are grown. They sell nuts locally. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Marine requested a loan from Credo to start up a family business. Marine 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 this credit, Marine will open a grocery shop. As she has a space already near her house, she will purchase a stock of groceries. After opening a shop, she will work hard to increase the income of her family. Part of the income will be reinvested in the business. 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $7,906,225
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Marine to purchase a stock of groceries for a new grocery shop.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
May 16, 2013
May 23, 2013
Currency Exchange Loss:
Sep 17, 2013