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Lali is 40 years old. She lives in Batumi District with her children: eight-year-old George and 10-year-old Sopho. Lali requested a loan from the local financial institutions several times for the family business start-up, but without any success. Her loan request was rejected every time because of the low income and the family’s poor living conditions. Lali has a bakery. She bakes pastries and sells them. Her income is really small and it’s hardly enough to feed her children. Lali requested a loan from Credo to start-up a family business. Lali has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of a business start-up and restart-up credits with soft conditions for 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, Lali will purchase a bed. She has few empty rooms in her house. After purchasing a bed, Lali will be able to rent the rooms out to tourists. As the Batumi district is a summer tourist area, Lali will have good numbers of clients and earn an additional income. With the increased income she will be able to provide better living conditions for her children.

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
  • $8,091,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Lali to purchase a bed to rent out the rooms for her tourism business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
May 30, 2013
Jun 4, 2013
Currency Exchange Loss:
Jul 17, 2014