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Konstantine is 31 years old and lives in Tbilisi with his parents, three brothers and grandmother, who receives a retirement pension. He has requested loans from local financial institutions several times for a start-up, but without any success. His loan request was rejected because of low income and family’s poor living conditions. He works as a gardener and his father is a driver, and they both earn a small monthly income. There is hardly enough on food for the family. According to Credo estimates the family belongs in the subsistence poor category.

Konstantine is requesting a loan from Credo to start-up a family business. He has now been approved for a loan within the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides start-up and re-startup credits with easy terms to rural poor people who do not have access to credit products. These people are regarded as high-risk borrowers because of their low income. With his credit Konstantine will buy a car and work as a taxi driver. He will continue working as a gardener every third day and drive the taxi on the other two. The new business initiative 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
  • 54
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $1,000 helped Konstantine to buy a car and work as a taxi driver.
Repayment Term
15 months (Additional Information)
Repayment Schedule
May 30, 2013
Jun 4, 2013
Currency Exchange Loss:
Jul 4, 2013