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Nodar, age 57, runs a family dairy farm. He lives in the small village of Khulo District with his wife, two sons, two daughters-in-law, and three grandchildren. The family is actively involved in agricultural activities. They have milk cows and sell cheese products. In addition, they have a plot of agricultural land where they grow potatoes, maize, and walnut trees. They sell the harvested products locally. The farm produces barely enough to adequately support the family. According to Credo estimations, the family belongs to the subsistence poor category.

Nodar would like to start up a grocery store business. He has requested loans from local financial institutions several times for family business start-up capital, but without success. His loan request was rejected each time because of his low income and the family’s poor living conditions.

Nodar has now requested a loan from Credo to start up a family business. He has been approved for a loan within the framework of a 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 because they are regarded as “high risk borrowers” due to low income.

With his credit, Nodar will open a grocery store. He will purchase a stock of groceries and also renovate a space near the family house to open his shop. Though Nodar has no experience as yet, he is very motivated to make his new business a success and to increase the income of his family.

This 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $5,000 helped Nodar to open a grocery store.
Repayment Term
20 months (Additional Information)
Repayment Schedule
May 30, 2013
Jun 3, 2013
Currency Exchange Loss:
Jul 3, 2013