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Vakhtang is 58 years old. He lives in Tsageri district with his wife and retired mother. Vakhtang requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.

Vakhtang is working as a welder on private orders and earns 350 Lari per month. They also rent a room in their house. Additional income for the family comes from Vakhtang’s mother’s monthly pension.

Vakhtang requested a loan from Credo to start-up a family business. Vakhtang 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 Vakhtang will renovate more rooms in their house to rent them out. He will purchase all the needed materials and hire the builders. After the renovation is done the room prices will be higher, and Vakhtang will earn a good income for the family. He wants to improve the family's living conditions. The new business initiative, financed with the Kiva Start-up loan will help the family to have a better life.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.


About Georgia

  • $6,100
    Average annual income
  • 54
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $4,300 helped Vakhtang to renovate more rooms in their house to rent them out.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 14, 2013
Jul 7, 2013
Currency Exchange Loss:
Aug 6, 2013