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Manushak is 40 years old. She lives in Akhaltsikhe District with her sister and niece. Manushak has requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected each time, because of low income and the family’s poor living conditions. According to Credo estimations the family belongs to the subsistence poor category.

Manushak has requested a loan from Credo to start-up a family business. Manushak 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 Manushak will begin selling bed linen. She plans to go to Turkey and purchase bed linen at wholesale prices and then resell among her villagers at a higher price. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of her 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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,901,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $700 helped Manushak to begin selling bed linen.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
May 30, 2013
Jun 20, 2013
Currency Exchange Loss:
Jan 18, 2014