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Thirty-two-year-old Ekaterine lives in Kutaisi district with her 54-year-old father, Rolandi. Ekaterine 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.

Ekaterine’s father is an artisan. He is working in construction and on house renovations on private orders. He earns about 250 GEL (Georgian Lari) per month, which is the only source of living for the family, and it’s rarely enough for food for them.

Ekaterine requested a loan from Credo to start up a family business. Ekaterine 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, Ekaterine will start trading in clothing. She will purchase clothes from Turkey at the wholesale price, bring them to her district and sell them with the price markup among the villagers. With this business, Ekaterine will earn a good profit, and she will be able to improve the family's living conditions. Part of the profit, she will use for reinvesting in the same business and try to expand it more.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,906,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Ekaterine to start trading in clothing.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
May 21, 2013
May 26, 2013
Currency Exchange Loss:
Nov 18, 2013