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Genadi, who is 40 years old, lives in the small village of Akho with his wife and two sons, ages 8 and 13. Genadi has requested a loan from local financial institutions several times so he can start a family business. However, he has not met with success. His loan requests were rejected because of his low income and his family’s poor living conditions.

The family owns a vineyard and a plot of agricultural land, where fruits and vegetables are grown. They also have a milk cow. Genadi’s wife milks the cow every day to produce dairy products. From the harvested grapes, Genadi makes wine. The family sells the wine, harvested products and dairy products to the villagers and at the local markets.

Genadi has requested a loan from Credo to start a family business. Genadi has now been approved for a loan within the framework of a new joint initiative between Kiva and Credo. The start-up loan program provides business start-up loans 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 loan, Genadi will purchase inventory to open a pub. He already has a commercial space to use as a bar. Genadi will purchase all the needed materials and inventory and his wife will work there. This will enable the family to generate additional income. This new business initiative, financed with the Kiva start-up loan, will significantly 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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD
A loan of $2,150 helped Genadi to purchase inventory to open a pub.
Repayment Term
23 months (Additional Information)
Repayment Schedule
May 21, 2013
May 27, 2013
Currency Exchange Loss:
Jun 26, 2013