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Solomon lives in the small village of Kobuleti district. He is 47 years old and lives with his wife, son and daughter. Solomon is, at the moment, unemployed. The sources of income for the family are the monthly salaries of Solomon’s wife, who works as a saleslady at the supermarket, and his son, who is a security guard. Solomon’s daughter is a student. The family managed to save enough money to purchase a car. As their existing income isn’t enough for the family and their living conditions are poor, Solomon decided to serve the locals as a taxi driver with his own car but he needs money to pay the tax for it. His loan request was approved as part of a new joint initiative between Kiva and Credo. This start-up loan program aims to provide business start-up and restart-up loans with more favorable conditions to rural poor people. They do not have access to standard credit, being regarded as 'high-risk borrowers' because of their low income. After the tax is paid, Solomon will start his business and the income of the family will increase. The family will also have enough income to use the usual sources of credit in the country, in case of need.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,924,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Solomon to pay the tax for his car, so he will be able to use it to provide taxi services.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Jun 26, 2013
Jul 11, 2013
Currency Exchange Loss:
Apr 17, 2015