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53-year-old Merab lives in the small village of Zeda Simoneti, which is in the Terjola district, with his 48-year-old wife Madona. Merab has requested a loan from local financial institutions several times to start a family business. However, he has not had any success. His loan request was rejected every time because of his low income and his family’s poor living conditions.

The family has two milk cows and two pigs. The cows are milked every day to produce cheese and sell at the local market for a small income. From the pigs, they sell piglets. The family's total income is 280 GEL. This amount is rarely enough to buy food.

Merab has requested a loan from Credo to start a family business. Merab has now been approved for a loan within the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides business loans 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 incomes.

With his credit, Merab will purchase chicks and chicken feed. He already has cages in which to place them. Merab is a very hardworking man. He wants to expand his agricultural business and increase the family's income. He will raise the chicks and sell them at a higher price. The increased income will give them an opportunity to have access to a better living. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the 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
  • 78
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Merab to buy chicks and chicken feed.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 17, 2013
Jun 26, 2013
Currency Exchange Loss:
Oct 17, 2013