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Demur is 48 years old. He lives alone in the capital city of Georgia, Tbilisi. Demur requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and poor living conditions.

The only source of income for Demur is his bakery. He bakes there different types of pastries, and he earns a small daily income.

Demur requested a loan from Credo, to start up a family business. Demur 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 restart-up credits, with soft conditions, to rural poor people who do not have access to other credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit Demur will purchase draft beer equipment, chairs and tables. He sells cold drinks from his bakery, and now he wants to add beer to the products he offers. After purchasing tables and chairs, and obtaining the capacity to serve draft beer, Demur will attracted many more customers. This will significantly increase the sales, and Demur will earn a good profit. With the increased profit, he will be able to expand his business and improve his 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,908,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Demur to add draft beer equipment, chairs and tables, to his cafe.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
May 28, 2013
Jun 23, 2013
Currency Exchange Loss:
May 20, 2014