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Levan is 58 years old. He lives in a small village of Dolikauri with his wife, Lamara. Levan 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 his low income and the family’s poor living conditions.

The main source of the income for the family is from agricultural activities. The own a vineyard and also have beehives with bee colonies, rabbits and milk cows. The cow are milked every day to produce dairy products. The family also produces honey. All the products are sold at the local markets and the family gets a small monthly income.

Levan requested a loan from Credo to start-up a family business. Levan 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 his credit, Levan will purchase chicks, chicken feed and cages for them. He will grow chicks and sell hens at a higher price. With his new business, Levan will expand the agriculture he has and increase the family income. With the increased income, he will be able to look after his wife better and insure better living conditions for her.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Levan to purchase chicks, chicken feed and cages for them.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 14, 2013
Jun 25, 2013
Currency Exchange Loss:
Jul 17, 2014