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Gia is 38 years old. He lives in the small village of Kobuleti District with his mother, who receives a retirement pension.

Gia requested loans from local financial institutions on several occasions for a family business start-up. But he did not have any success securing loans from the local institutions: his loan requests were rejected each time because of his low income and his family’s poor living conditions.

The sole source of income for his family is from agricultural activities. In particular, they have a plot of agricultural land, where they grow different kinds of fruits and vegetables. They then locally sell the harvested fruits and vegetables. But the income they generate is hardly enough to support the family. According to Credo estimates, the family belongs to the subsistence poor category.

Gia requested a loan from Credo for a start-up family business. Gia 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 providing business start-up and re-startup credits with lenient 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 the loan proceeds, Gia would like to purchase a car. After purchasing a car, he feels he will be able to better distribute fruits and vegetables for sales purposes. He will also purchase chickens to re-sell. By doing so, he believes that he will increase his family's income. The new business initiative, financed with the Kiva start-up loan, will significantly improve his 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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,200 helped Gia to more easily sell fruits and vegetables by purchasing a car and to purchase chickens.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
May 30, 2013
Jun 10, 2013
Currency Exchange Loss:
Apr 16, 2014