Check out some available loans that are similar to this one!
Varlam is 46 years old. He lives in Samtredia district with his wife, Lia, and two children (19 and 22 years old). Varlam requested a loan from local financial institutions several times for 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 income for the family is from agricultural activities. In particular, they have two milk cows and three calves. The cows are milked every day to produce cheese. The product is sold at the local market, and the family gets a small monthly income of 200 Lari. Their additional income is Varlam’s son’s salary. He is an artisan and works on house construction and renovations for private orders.

Varlam requested a loan from Credo to start-up family business. Varlam 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, Varlam will purchase a truck. He will be working on private orders as a driver to transport different types of cargo. Varlam will earn additional income for the family. He wants to expand his agriculture and improve the family's living conditions. For this reason, he will work as hard as he can and try to do his best in the new business.

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
  • $7,931,175
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Varlam to purchase a truck.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 14, 2013
Jun 25, 2013
Currency Exchange Loss:
Mar 17, 2014