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Nargiz is 46 years old, married, and lives with her husband, mother-in-law and two student daughters in the little town of Kobuleti. Nargiz’s husband works at the local water company and gets a small monthly income. Her mother-in-law is provided with a retirement pension. The existing income is only enough to cover everyday expenses.

So, Nargiz decided to start up a grocery store to increase the family income, but she needs financial support to implement her plan. Unfortunately, Nargiz lacks the access to financial institutions to obtain credit for starting a business, as these financial institutions require a stable income and business experience. She received the credit in the framework of a joint initiative of Kiva and Credo. The Start-up Program gives rural poor people the chance to start or re-start businesses.

With the loan of $1,800, Nargiz will purchase basic groceries for setting up a grocery store. She will take care of her clients and treat them in a kind and friendly way. With this assistance, she expects to improve her income and increase the turnover gradually.

Nargiz will work hard to tackle her financial difficulties and make savings for financing the education of her daughters.

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
  • 54
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Nargiz to purchase basic groceries to start up a grocery store.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Jun 26, 2013
Jul 23, 2013
Currency Exchange Loss:
Apr 17, 2015