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Elmira is 39 years old and lives in the Gardabani district with her husband and child. She’s unemployed at the moment. The only source of income for the family is the unstable income earned by Elmira’s husband who works as a construction assistant from time to time. As their existing income is very small and not enough to cover everyday expenses, Elmira decided to start up a clothing sales business. However, local credit providers usually demand experience and some stable income from the borrowers. Elmira’s credit requests have been rejected several times as she didn’t satisfy their requirements.

Elmira is requesting a 1,100 USD loan to purchase clothing at wholesale prices and resell it in the local market and from her house to her neighbors. Her loan is within the framework of a joint initiative of Kiva and Credo, the so-called Startup Program, that gives vulnerable poor the chance to start or re-start businesses. Elmira plans to sell a wide assortment of well-priced clothing for men, women, and children. It is obvious that her job is hard for Elmira, but she is ready to deal with the difficulties and develop her business gradually. The Start Up credit will be a great support for the family and 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
  • 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 $1,100 helped Elmira to purchase clothing at wholesale prices to resell in the local market.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jul 25, 2013
Aug 9, 2013
Currency Exchange Loss:
Sep 17, 2014