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Sophiko is 35 years old and a married woman, from Vani district. She lives with her husband and four children. The family is involved in agricultural activities. In particular, they have a milking cow and a calf. She milks the cow every day and produces dairy products for sale. In addition, they have a plot of agricultural land, where they have 300 nut trees. They sell the harvested nuts at a good price. As the income is only seasonal and is not enough for covering the expenses, Sophiko decided to start her own business and seek for credit among local financial institutions. Her attempts were unsuccessful because of her poor living conditions.

The startup loan program, a joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get a loan for starting or re-starting businesses. Sophiko's application was approved under the framework of this program, to get a loan of 800 GEL. With the received credit, she will start trading in clothing. Sophiko plans to go to Turkey and purchase clothing at wholesale prices, and then resell the goods at higher prices among her fellow villagers. This will increase the income of her family. With increased income, she will be able to improve the living conditions 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $500 helped Sophiko to begin a clothing sales business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 8, 2013
Sep 8, 2013
Currency Exchange Loss:
Apr 16, 2014