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Elza is 37 years old, a young married woman. She lives with her spouse and three children (1, 11 and 14 years old) in the town of Kutaisi. The only source of income for the family is the small monthly salary earned by Elza’s husband, working at the local electric company. Elza is jobless at the moment. She looks after her children and stays home, but she has a great desire to be involved in her own business.

Elza couldn’t receive a loan from the local financial institutions, because of their requirements to have business experience or stable revenue, until the Start Up program began which is a joint product of Kiva and Credo. The program allows vulnerable poor like Elza to get a chance for starting or re-starting a a business.

Elza requested a loan of 1000 USD to set up an indoor playground and party center for kids. Elza will rent the space, purchase playground equipment, hire children's entertainers and offer special party packages for children on their birthday. Elza hopes her business will be profitable, as there is not a similar center for kids nearby.

This will give her a chance to earn income and become financially independent. Thanks to the Start Up program, Elza will be able to make savings and provide a better future for her children.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,807,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Elza to start an indoor playground and party center for kids.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jul 27, 2013
Aug 27, 2013
Currency Exchange Loss:
Feb 17, 2014