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Tsitsino is 35 years old. She lives in the Marneuli district with her husband and six children. Tsitsino’s husband is a cook and is the only one who makes money in the household. The family lives below the poverty line and gets a small amount of monthly social assistance from the government. The existing income is not enough to cover the everyday costs of such a large family.

Tsitsino is unemployed at the moment. She has requested a loan from local financial institutions several times for a family business start-up, but she hasn't had any success. She wants to start a bakery and a confectionery, but her loan request has always been rejected in the past because of her lack of experience, which is usually required by local credit providers.

Tsitsino has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with reasonable conditions to vulnerable poor people, who do not have access to regular credit products. These vulnerable poor people are regarded as “high risk borrowers” because of their low incomes. With her credit, Tsitsino will start her own confectionery shop. She has already rented a store with all of the necessary equipment, and she needs money to purchase raw materials for baking cookies and cakes. This new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of her family.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Tsitsino to start a bakery and confectionery.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jul 31, 2013
Sep 3, 2013
Currency Exchange Loss:
Jul 17, 2014