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Nana is 44 years old. She lives in a small village of the Khobi district with her husband, two children, daughter-in-law and grandson.

Nana requested loans from local financial institutions several times for family business start-ups, but without any success. Her loan requests were rejected all the time because of low income and family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have three milking cows, two calves and a pig. Nana produces cheese products for selling. Besides, they have a plot of agricultural land, where nut trees, bay trees and maize are grown. They sell the harvested products locally at a good price, but it is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Nana requested a loan from Credo to start a family business. Nana has now been approved for a loan within the framework of the 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. These rural poor people are regarded as “high risk borrowers” because of their low income.

With her credit, Nana will begin trading fruits and vegetables. She plans to purchase fruits and vegetables at wholesale prices. Nana's son will transport them to buy at higher prices. This will increase their income. 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

  • $4,600
    Average annual income
  • 61
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $3,600 helped Nana to begin trading fruits and vegetables.
83% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
May 29, 2013
Jun 6, 2013
Currency Exchange Loss: