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Gela is 42 years old and is from Kutaisi district. He lives with his wife Nino and their parents who are provided with a retirement pension. Nino works at local pharmacy and gets a small monthly income. Unfortunately, her salary is not enough to make ends meet for a family of four. In the region there is a high unemployment rate, but self-employment helps inhabitants to make living.

So, Gela decided to start his own business with a loan but the local credit providers usually demand experience and some stable income from the borrowers. Gela’s credit requests were rejected several times, as he was not able to satisfy their requirements. He received the credit in the framework of joint initiative of Kiva and Credo - Startup Program that gives rural poor people the chance to start or re-start businesses. With the loan of $1500, Gela will purchase all the raw materials and open a window-and-door workshop. He will get orders to prepare different kinds of windows and doors. He is experienced in this field, as he had been working in such a workshop, so he thinks that the business will be profitable.

The Start Up credit will be a great support for the family, as their income will be significantly increased thanks to Kiva Lenders.

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
  • $8,094,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Gela to open a workshop and get orders to prepare windows and doors.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jun 29, 2013
Jul 23, 2013
Currency Exchange Loss:
Feb 17, 2015