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Twenty-five-year-old Ivane lives in Akhmeta Kheltubani village, of the Gori district, with his retired father, mother, 24-year-old brother and sister-in-law. Ivane 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.

Ivane is working as an artisan at the local road building company. His family has three milk cows and they also own plot of land, where apple trees and garlic are grown. The cows are milked every day to produce cheese. The harvested products and cheese are sold at the local market.

Ivane requested a loan from Credo to start up a family business. Ivane 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 Ivane will purchase a mini-bus. He will start trading in fruits and vegetables. Ivane will purchase products at wholesale prices from the local market and resell them among the villagers with a price markup to earn a good profit. 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
  • 74
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $4,200 helped Ivane to purchase a mini-bus and start trading in fruits and vegetables.
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jun 25, 2013
Jul 7, 2013
Currency Exchange Loss:
Aug 6, 2013