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Gocha is 31 years old. He lives in the small village of Lagodekhi District with his wife, brother and pensioner parents. Gocha has requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected all the time, because of low income and his family’s poor living conditions. The only source of the family's income is from agricultural activities. In particular, they have a plot of agricultural land, where they grow tomatoes, watermelons and eggplants. They sell the harvested products at local markets. Besides this, Gocha has a tractor which is rented out seasonally. It is hardly enough for the family's food expenses. According to Credo estimations, his family belongs to the subsistence poor category.
Gocha has requested a loan from Credo to start-up a family business. Gocha has now been approved for a loan within the framework of a 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 his credit, Gocha will purchase a minibus. After the minibus is purchased, he will be able to begin trading with fruits and vegetables. This will help increase the income of their family. This new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of Gocha's 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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $4,000 helped Gocha to purchase a minibus for trading fruits and vegetables.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 15, 2013
Jun 22, 2013
Currency Exchange Loss:
Jul 22, 2013