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Eldar is 66 years old. He lives with his mother in a small village in Sagarejo district. His mother is provided with a retirement pension. Eldar has a car and serves local people as a taxi driver. As his income is not stable, Eldar decided to begin an additional business and seek credit among local financial institutions. His attempts were unsuccessful because of his poor living conditions.

The Start-up program, a joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get a loan for starting or re-starting businesses. His application was approved under the framework of this program to get a loan of $1300.

With the received credit, he will begin trading in vegetables. He will purchase stocks of groceries and transport them to different villages to resell. This will give him a chance to generate additional income and improve his living conditions.

This credit will be a great support for the family. Eldar is thankful to Kiva Lenders for giving him a chance to generate income.

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
  • $7,812,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $1,300 helped Eldar to begin trading in vegetables.
Repayment Term
16 months (Additional Information)
Repayment Schedule
Aug 2, 2013
Sep 3, 2013
Currency Exchange Loss:
Oct 3, 2013