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Levan is 36 years old, married and lives with his wife, two children, sister-in-law and mother-in-law. Levan works as a painter and his wife is a hair stylist at the beauty salon. Both of them get monthly salaries. Their total amount of monthly income is $360, which is hardly enough for food and everyday expenses.

There is a high unemployment rate in the region and Levan is unable to find a suitable and well-paying job. That is why he decided to start his own business. All the financial institutions rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Levan applied for a loan from MFO Credo. His request was approved within the framework of their Start Up program, which is a joint initiative with Kiva, permitting the vulnerable poor to start or re-start businesses.

A loan of $1,700 will help Levan to purchase a secondhand car. He will serve the local people as a taxi driver and transport them in return for a service fee. Levan is very enthusiastic and is a hard working person with a great desire to get ahead. This credit will be a great support for the family. Levan is thankful to Kiva Lenders for giving him a chance to generate income.

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

  • $4,600
    Average annual income
  • 45
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $1,700 helped Levan to purchase a car to use as a taxi.
Repayment Term
16 months (Additional Information)
Repayment Schedule
Jul 22, 2013
Aug 9, 2013
Currency Exchange Loss:
Sep 8, 2013