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Lela, age 42, lives in the small village of Telavi District with her husband, their young son, and her parents-in-law. Lela’s husband works in transportation and gets a small monthly income. Her parents-in-law are provided with a small retirement pension. Though they pool their income, it is hardly enough to provide sufficient food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Lela would like to start a clothes trading business. She is experienced in this field as she was involved in a trading business three years ago. She has requested loans from local financial institutions several times to obtain family business start-up capital, but without success. Her loan request was rejected each time because of her low income and the family’s poor living conditions.

Lela has now requested a loan from Credo in order to start up her clothes trading business, and she 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 their low income.

With her credit, Lela will begin trading in clothing items. She plans to go to Turkey, where she will purchase clothing from wholesalers, and then she will resell these items among her local villagers at a higher price. 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,912,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Lela to begin a clothes trading business.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
May 31, 2013
Jun 3, 2013
Currency Exchange Loss:
Jan 18, 2014