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Iuri is 54 years old and lives in the village of Krasnoe with his 25-year-old daughter. The source of income for the family is a small scale agricultural business. In particular, milking cow whose milk is sold locally. Besides this, Iuri cultivates a plot of land and sows various of vegetables, which are used for feeding.

As the existing income is not enough for food and every day expenses, Iuri decided to purchase a car and start a taxi business. However, he would have to charge higher prices for his service because the price of benzene is high. Not many citizens could afford to use the taxi service at a higher price. Because of the above mentioned problem, Iuri will change his car's fuel system from benzene to gas, which is cheaper than benzene and will reduce the cost of transportation by 40 to 45 percent. It will allow Iuri to offer cheaper service to his customers. With this startup loan, Iuri will buy a second-hand car and pay a local auto service center to change the fuel system. He will start his taxi business and help the family in covering food and everyday expenses. The increased income will be used for the family's well being.

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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $8,094,625
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
A loan of $1,525 helped Iuri to purchase a second-hand car and change its fuel system.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jul 19, 2013
Aug 17, 2013
Currency Exchange Loss:
Sep 16, 2013