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George is 42 years old and lives in the Gurjaani Ddstrict with his wife, two children and father, who has a retirement pension. He has requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected because of low income and family’s poor living conditions.

George serves local people as a taxi driver. This is the only source of income for their family, but he hardly earns enough money to pay for food to feed his family. According to Credo estimates, the family belongs to the subsistence poor category.

George has requested a loan from Credo to start-up a family business. He has now been approved for this loan within the framework of a new joint initiative of Kiva and Credo that provides start-up and re-startup credits with easy terms to rural poor people who do not have access to other forms of credit. With his loan, George will buy piglets, raise them and resell some of them at a higher price. He will hold on to others to create new pigs and expand his herd. This 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
  • 73
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped George to buy piglets.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
May 31, 2013
Jun 15, 2013
Currency Exchange Loss:
Apr 16, 2014