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Tengiz is 57 years old, and lives in Tbilisi, the capital city of Georgia, along with his wife and three children. The family owns a plot of agricultural land, where nut trees are grown. Harvested products are sold at the local markets and to the resellers. This is the only source of the income for the family, which is rarely enough for food for them.

Tengiz has requested a loan from local financial institutions several times for a family business start-up, without success. His loan request was rejected every time, because of low income and the family’s poor living conditions.

Tengiz requested loan from Credo to start-up a family business. He has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup with 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, Tengiz will open a café and he will purchase all the needed inventory and products. Tengiz is very experienced in this field, as he had this business seasonally on the seaside in the Anaklia district. He wants to start the café again, but this time in the capital city, as the income will be more stable.

Tengiz and his wife will work hard in the café and try to do their best to satisfy the client’s needs. The new business initiative, financed with the Kiva start-up loan, will give them an opportunity to earn more income and 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,091,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Tengiz to purchase the products and inventory needed to start a café.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
May 29, 2013
Jun 26, 2013
Currency Exchange Loss:
Jul 17, 2014