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Famadin is a 43-year-old married man. He lives in the small village of Marneuli district with his wife, Shekhla. The only source of income for their family is from agricultural activities. In particular, they have a greenhouse, where tomatoes are grown. They sell the harvested tomatoes at local markets at a good price.

As the existing income is not enough for his family, Famadin has decided to start his own business. All the financial institutions rejected his loan requests because of his unstable financial condition and lack of experience. After several unsuccessful attempts, Famadin applied to MFO Credo for a loan. His request was approved in the framework of the Start Up program, which is joint initiative with Kiva, permitting the rural poor to start or re-start businesses.

With the loan of $2500, Famadin will purchase calves and feed for them. He will also renovate the shed and as the calves are raised, he plans to resell them at higher price. The Start Up credit will be a great support for the family, as their income will be significantly increased.

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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,076,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Famadin to purchase calves and renovate a shed.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 11, 2013
Jul 27, 2013
Currency Exchange Loss:
Aug 17, 2014