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Merab is 27 years old. He lives in a small village of the Tsetskhlauri, Kobuleti district with his wife and parents. Merab requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected every 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 a plot of land where mandarin trees and maize are grown. Harvested products are sold at the local markets.

Merab requested a loan from Credo to start up a family business. Merab 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 Merab will purchase a mini-bus. He will start working on a bus-line. Merab will drive the bus and increase the family's income. The new business initiative, financed with the Kiva start-up loan, will give Merab an opportunity to insure a better life for his 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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,908,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $3,000 helped Merab to purchase a mini-bus and drive on a bus-line.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 22, 2013
Jul 7, 2013
Currency Exchange Loss:
Aug 6, 2013