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43-year-old Lena lives with her 15 and 19 year old sons in Baghdati district. Lena requested loans from local financial institutions several times for her family business start-up, but without any success. Her loan request was rejected every time, because of low income and family’s poor living conditions.
The only source of the income for the family is from agriculture. They own a small plot of land, where vegetables are grown. Harvested products are used by the family and sold at the local market.
Lena requested a loan from Credo to start up a family business. Lena 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 Lena will start trading clothes from Turkey. She will go there to purchase products at the wholesale price, bring it to her district, and sell with the price markup among the villagers. The new business will give Lena an opportunity to increase the family income and to be able to provide proper living conditions for her children.

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
  • 39
    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 $1,000 helped Lena to trade clothes from Turkey.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
May 31, 2013
Jun 16, 2013
Currency Exchange Loss:
Jul 17, 2014