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Nana is 32 years old. She is married and lives in the small town of Goriwith her husband, retired parents-in-law and two children (5 and 13 years old). Nana’s husband is a soldier and her father-in-law works as a food distributor. Both of the family members get monthly salaries. Nana’s economic activity is a newly started store in a rented commercial place, selling different types of groceries. Her grocery store is not well-stocked, and it needs support to further develop. Several times she has asked for loans from local financial institutions to develop her business, but without success. Her loan requests were rejected each time because of her low income. However, Nana’s loan request was approved as part of the new joint initiative between Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit with soft conditions to the vulnerable poor who do not have access to credit products, since they are regarded as “high-risk borrowers” because of their low income. With this loan, Nana will cover the costs of purchasing the necessary stock of basic groceries that customers often request. She plans to increase the turnover in her trade business gradually. This new business initiative, financed with the Kiva start-up loan, will significantly increase the income of her family. Nana will work hard, and she will be able to improve her family's living conditions. With this loan, her family will generate enough income to access regular available credit products in the country’s capital market, in the event that they need it.

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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,896,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Nana to purchase basic groceries to sell.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Jul 11, 2013
Aug 11, 2013
Currency Exchange Loss:
Apr 16, 2014