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Merab is a 52-year-old married man from a small village in Tskaltubo district. His wife Darejan lives abroad. Merab is a very hardworking man and is actively involved in agricultural activities. He has three milking cows, whose milk is used in making cheese products. Merab sells cheese at a good price at local markets. The income is hardly enough to cover everyday costs, so he decided to apply for a loan and start new business. All the financial institutions rejected his loan applications because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Merab applied for the credit to MFO Credo. His request was approved in the framework of the Start-Up Program, which is a joint initiative with Kiva, which permits the rural poor to start up or re-start businesses. With a loan of $5,000, Merab will build a greenhouse. As the greenhouse is built, he will be able to sow various kinds of vegetables. With this financial support, Merab will be able generate more income and improve his living conditions, and to expand the 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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,901,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Merab to build a greenhouse.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 9, 2013
Jul 24, 2013
Currency Exchange Loss:
May 24, 2014