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Nana is a 47-year-old married woman from Kutaisi district. She lives with her 48-year-old husband Gia and their two sons, who go to school. Nana is unemployed at the moment. Gia has a workshop where he produces different kinds of footwear by orders. As this is the only income for their family and it isn’t stable, Nana decided to start her own business with a loan.

Her loan request was rejected several times by financial institutions, as she wasn’t able to satisfy their requirements because of lack of business experience and financial stability. She received the credit in the framework of a joint initiative of Kiva and Credo, a so called Start-Up program, which gives rural poor people the chance to start or re-start businesses.

With the loan of $2700, Nana will open a grocery store. She will purchase a stock of groceries and household goods. As the grocery shop is opened, Nana will become financially independent. The Start Up program will be a great support for the family, as their income will be significantly increased. With the increased income she will pay for her sons' educations and will expand her business in the future.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,700 helped Nana to open a grocery store.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jun 27, 2013
Jul 19, 2013
Currency Exchange Loss:
Feb 17, 2015