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Luiza is 51 years old. She lives Utsera village, Oni district with her husband Koba, retired parents’ in-law and three children (8, 17 and 21 years old). Luiza requested loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and family’s poor living conditions.
Family runs an agricultural business. In particular, they have 2 milk cows and plot of agricultural land, where nut trees and vegetables are grown. Luiza milks the cows every day to produce dairy products, which are sold at the local markets together with harvested products. Koba is a war veteran and gets a military pension. Family additional income is Koba’s parent’s monthly pensions.
Luiza requested loan from Credo to start-up family business. Luiza 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 her credit Luiza will open two grocery shops. She has a space in the house and also owns a commercial cabin in the center of her village. Luiza wants to purchase grocery stock and use both spaces as a shop. Family will work long hours in both shops. It will bring a good profit, which will be reinvested in the same field. Luiza will expand her business and earn a good income. With the increased income she will be able to improve the family 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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,896,375
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,475 helped Luiza to purchase grocery stocks and open two gorcery shops.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 16, 2013
May 23, 2013
Currency Exchange Loss:
Apr 16, 2014