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34-year-old Apina lives in the Gardabani district with her 41-year-old husband. Apina requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time, because of her low income and the family’s poor living conditions.

The only source of the income for the family is from trading clothes. They buy clothes at the wholesale price to resell them at a mark-up among the villagers and earn a small profit.

Apina requested a loan from Credo to start-up the family business. Apina has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions for rural poor people who do not have access to credit. These poor, rural people are regarded as “high-risk borrowers” because of their low income.

With her credit, Apina will purchase stock of clothes for her trading business. She wants to expand the varieties of the products she has to offer a better choice of products to her clients. As Apina will have a bigger stock she will significantly decrease the expanses and increase the profits. The family will use part of the profits for reinvesting and purchasing more clothes and part to improve their 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
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,700 helped Apina to purchase stock of clothes for her trading business.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
May 29, 2013
Jun 16, 2013
Currency Exchange Loss:
Oct 17, 2014