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Eghish, age 27, is a very kind and hard-working, single man. He lives with his retired parents in the small village of Akhalkalaki. Eghish works very hard on his own piece of land, where he grows potatoes. His products are very good quality, and he sells the harvests at the market that is close to where he lives. As his agricultural business is seasonal and the family needs monthly income, Eghish decided to start up his own business. There is a high unemployment rate in the region, and the majority of the inhabitants are self-employed to make a living.

To be able to start up his business, he is requesting a 3000 GEL loan. His loan request was approved, in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up credits with soft conditions, to country rural poor people who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the amount he is asking for, Eghish will set up a metal and plastics workshop. He will purchase materials for making doors and windows. He will manufacture and sell them at a good price, because demand is high in the region. This loan will be a great help for him, to generate revenue and give his family better financial stability.

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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,091,775
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Eghish to purchase materials for setting up a metal and plastics workshop, to manufacture windows and doors.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jun 29, 2013
Jul 13, 2013
Currency Exchange Loss:
Aug 17, 2014