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Irina is 25 years old. She lives in the Khelvachauri District with husband Ucha and 5-year-old son Nikoloz. Irina requested loan from local financial institutions several times for her family business start-up without any success. Her loan request was rejected every time because of her low income and her family’s poor living conditions.
Irina’s husband Ucha is an artisan. He works on house construction and renovations for private orders to earn a small monthly salary, which is the only source of the income for the family.
Irina requested a loan from Credo to start a family business. Irina 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 the 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, Irina will open a shoe shop. She has already rented a commercial space in a very populous area and now wants to fill it up with shoes. Irina will work in the shop as a seller herself in order to decrease expenses and increase her income. She will reinvest part of the profit in the same field and purchase more varieties of shoes to satisfy client needs more. Another part of the profit will be used to improve the family's living conditions and insure a better life for her son.

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 $1,800 helped Irina to open a shoe shop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 14, 2013
Jun 24, 2013
Currency Exchange Loss:
Feb 17, 2014