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Lili is 32 years old and lives in Bolnisi district with her retired parents-in-law. Lili requested loans from local financial institutions several times for a family business start-up but without any success. Her loan requests were rejected each time because of low income and her family’s poor living conditions.
The only source of income for the family is the monthly pension of Lili’s parents-in-law.
Lili requested a loan from Credo to start up a family business. Lili 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, Lili will purchase a stock of groceries to open a grocery shop. She already has a commercial space, which is located in a populous area. In order to decrease the expenses Lili will work in the shop as a seller herself. This will significantly increase the profit. Part of the profit Lili will be using to purchase more varieties of products to satisfy clients' needs better. 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,931,175
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Lili to purchase a stock of groceries to open a grocery shop.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
May 27, 2013
May 28, 2013
Currency Exchange Loss:
Aug 17, 2014