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Koba is 44 years old. He lives in a small village, Tkemlovana, in Chiatura district, with his retired parents and two children (13 and 15 years old). Several times, Koba requested a loan from local financial institutions for a family business start-up, but without any success. His loan request was rejected each time because of low income and his family’s poor living conditions.

Koba's family runs an agricultural business. In particular, they have milk cows, bulls, two pigs, and a plot of land where haricot and maize are grown. The cows are milked every day to produce dairy products. Harvested products, along with the dairy products, are sold among the villagers. Koba also has a small grocery shop and he earns a daily income. The family's additional income is from Koba’s parents' monthly pensions.

Koba requested a loan from Credo to start-up a family business. Koba 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 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 his credit, Koba will purchase a mini-bus. He wants to start trading in fruits and vegetables. Since his village is far from the city center and it’s hard for the locals to access certain products, Koba, with his mini bus, will go to the big market in Chiatura district, purchase fruits, vegetables, and other products, and bring them to his village to resell to the villagers.

With this loan, Koba will help his villagers and will also have increased the income of his 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Koba to buy a mini-bus for trading in fruits and vegetables.
100% repaid
Repayment Term
33 months (Additional Information)
Repayment Schedule
May 31, 2013
Jun 18, 2013
Currency Exchange Loss:
Nov 17, 2014