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Ramaz is 28 years old. He is hardworking and determined, with a will to get ahead in life. He lives in the coastal city of Batumi with his parents. His mother is a teacher and receives a small monthly income. The father has chronic health problems and receives monthly assistance from the local government. Ramaz sells basic groceries in a store located in a crowded street in Batumi. His clients are locals, as well as holiday-makers. Summertime is high season in Batumi, and his business profits allow Ramaz to help his parents with the household expenses. His plan now is to continue to work on his business and to make it grow. Ramaz applied for credit to MFO Credo. His application was approved in the framework of the Start Up program, which is a joint initiative with Kiva, permitting vulnerable poors to start or re-start businesses. A loan of $2,000 will help Ramaz to improve his store and enlarge the quantity of products he offers. He will buy supplies, including sugar, soft drinks and snacks, to stock his store in a better way. With this financial support, Ramaz will expand his grocery store and attract more customers. He promises to make his repayments on time.

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
  • 36
    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 $2,000 helped Ramaz to purchase merchandise to stock his store better.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 12, 2013
Jul 22, 2013
Currency Exchange Loss:
Jul 17, 2015