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David, 38, is married and lives with his wife, mother and three children ages 11, 12 and 13 in the village of Dzirula. David is a construction worker, and works at the local bridge building company. Besides that, he runs a small scale agricultural business and grows nuts in his garden. David owns a dairy cow and makes cheese with the milk produced. The cheese and the harvested nuts are sold locally.

David is an enthusiastic man, and wants to generate more income. The existing funds, though, are not enough to cover everyday expenses. So, David decided to start up a grocery store, but found that he didn't have enough money to do so. Unfortunately, David was unable to obtain a loan from existing financial institutions, as they required a stable income and business experience as a precondition to a loan. However, David has now received his loan within the framework of a new joint initiative between Kiva and Credo. This start-up loan program provides start-up and restart-up loans with easy terms to the country's vulnerable poor who do not have access to credit.

With a loan of 2500 GEL (Georgian Lari), David will hire commercial space in his district and purchase basic groceries for starting up a store. He will care for his clients and treat them in a kind and friendly way. With this determination and his loan, he expects to improve his income and give his family members better living conditions.

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
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
A loan of $1,525 helped David to start up a grocery store.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 22, 2013
Aug 22, 2013
Currency Exchange Loss:
Sep 21, 2013