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Lia, 38, lives in the small village of Bughaura, Surami district, with her 43-year-old husband, her retired parents-in-law and 18-year-old daughter. Lia requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and her family’s poor living conditions.

Lia’s husband is an artisan. He is working on house renovations for private orders to earn a small income for the family. Their additional income is Lia’s parents-in-law’s monthly pensions.

Lia requested a loan from Credo to start-up a family business. Lia 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 Lia will renovate the house in order to rent it out. Surami district is a tourist area in summer. It’s popular for its beautiful nature and fresh air, so a lot of families go there for summer vacations. Lia will have the rooms to rent out and earn a good profit. 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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,908,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Lia to renovate the house in order to rent it out.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
May 31, 2013
Jun 12, 2013
Currency Exchange Loss:
Apr 16, 2014