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Salome is 25 years old. She is married and lives in the Terjola District with her husband, two children and retired grandmother. The family runs an agricultural business. In particular, they own four cows, two of them are milking. Salome produces cheese and sells it in the local market. In addition, the family has a pig and sells piglets seasonally.

Since their income is not enough for the family's needs, Salome decided to start up a new business. She went to a local credit agency to get money for this business start-up, but without any success. Her loan request was always rejected because of her low income and lack of experience in starting a new business. She received the loan in the framework of a start-up loan program that was initiated jointly by Credo and Kiva. This program aims at the provision of business start-up funds for the Georgian rural poor, who do not have access to regular credit products, as they live in poverty and are regarded as “borrowers with a high risk."

With the requested credit, Salome will purchase chickens and raise them. After 4-5 months, she will start to sell them. The hens will be sold on the local open market by Salome. She will reinvest the profit for the further expansion of the farm. Also, part of the profit will be used to purchase some necessary household goods to improve her living conditions.

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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,799,500
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Salome to start up a poultry farm.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jun 6, 2013
Jul 9, 2013
Currency Exchange Loss:
Jun 18, 2014