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Manuchar is 29 years old. He lives in a small village in the Chokhatauri District with his mother, Rusudan. Manuchar has requested a loan from local financial institutions several times for a family business start-up. However, he has not had success. His loan request was rejected every time because of his low income and his family’s poor living conditions.

The only source of income for the family comes from their agricultural activities. Specifically, they have two milking cows, five calves, a pig and piglets. Rusudan produces cheese products and sells them at the local markets. They have 0.6 hectares of agricultural land, where 500 nut trees are grown. They sell 400 to 500 kg of nuts seasonally and at a good price. It is hardly enough to put food on the table for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Manuchar has requested a loan from Credo to start a family business. Manuchar 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 business start-up credit 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 his loan, Manuchar will purchase a tractor. This will enable him to receive orders to transport wood, thereby increasing the income of his family. 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
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $4,000 helped Manuchar to purchase a tractor.
Repayment Term
39 months (Additional Information)
Repayment Schedule
May 31, 2013
Jun 5, 2013
Currency Exchange Loss:
Jul 5, 2013