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Sergo, 59 years old, lives in the village of Tserovani with his wife, who takes care of the family, and grown daughter. Sergo has a high school education but works as a driver at the local municipality. His daughter is a technician at the candy factory. Both earn small monthly salaries.

Sergo is a very hardworking person who puts family first, but he is unable to provide them with enough income. He has therefore decided to start his own car wash with the help of a loan that he requested from MFO Credo; the application was approved within the framework of a startup program that enables inexperienced borrowers to begin new businesses.

Sergo owns a commercial space, and with the loan will purchase essential equipment such as a vacuum cleaner, hoses and power washers. He will provide services to local community members and hopes to generate income. The new business initiative will significantly improve the living conditions of his family and give Sergo financial stability. He awaits your support.

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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $2,500 helped Sergo to start up a car wash.
Repayment Term
22 months (Additional Information)
Repayment Schedule
Jul 15, 2013
Aug 17, 2013
Currency Exchange Loss:
Sep 16, 2013