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Mikheil is 20 years old. He lives in the Gardabani district with his mother and 4-year-old brother. In spite of his young age, Mikheil is the only income provider in the family, working as a daily worker in the local fields. He started working in early childhood and his small seasonal income is a primary income source for his family members. However, his earnings are not enough to cover the cost of food and everyday expenses. For this reason, Mikheil decided to start a dairy farm.

Mikheil's loan request was approved as part of a new joint initiative between Kiva and Credo. The start-up loan program provides loans with reasonable terms to start-up businesses. These loans are provided to the country's vulnerable poor, who do not have access to credit products because they are regarded as “high risk borrowers” due to their low incomes.

The loan will be used to purchase a milk cow. Mikheil will place the cow in the cattle shed located in his yard and he will sell the milk at the local market. He estimates that the family's income will increase by 150 to 200 GEL, which is a 40- to 50-percent increase. The family's living conditions will significantly improve, enabling them to access regular credit products that are currently available.

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
  • 50
    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 $1,000 helped Mikheil to purchase a milk cow to start a dairy farm.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jul 19, 2013
Jul 27, 2013
Currency Exchange Loss:
Dec 17, 2014