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Shota is 30 years old. He lives in Akhaltsikhe District, Minadze Village with his 25-year-old wife, parents, retired grandmother and 3-year-old daughter. Shota has requested a loan from local financial institutions several times for family business start-up without any success. His loan requests are rejected all the time because of his low income and the family’s poor living conditions.

This family has two milk cows, calves and a plot of agricultural land. On the land, potatoes, onions and different types of vegetables are grown. The cows are milked every day to produce dairy products. The harvested products and dairy are sold at the local market so the family can make a small monthly income. Their additional income is from Shota’s mother’s monthly salary and his grandmother’s monthly pension.

Shota requested a loan from Credo to start-up a family business. Shota has 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 credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit, Shota will purchase a minibus. He wants to start trading fruits and vegetables. With the mini-bus, Shota will be able to purchase products at a wholesale price and distribute them among the villagers and at the local markets with a price markup. Shota will work as hard as he can and earn a good profit. He wants to use part of the profit for reinvesting in his agricultural business in order to expand it. This new business initiative, financed with a 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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Shota to purchase a minibus for trading fruits and vegetables.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 6, 2013
Jun 26, 2013
Currency Exchange Loss:
Jul 17, 2015