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George is 29 years old. He lives in a small village in the Lanchkhuti district with his parents and grandmother. His grandmother has a retirement pension.

The family is involved in agricultural activities. In particular, they have milk cows and a plot of agricultural land where maize and nut trees are grown. George works hard to insure a good harvest. George always has high-quality products, which are sold at a good price at local markets.

As the income is only seasonal and not enough for a family of four, George decided to start a business and seek credit among local financial institutions, but his attempts were unsuccessful because of his poor living conditions.

The start-up program, a joint initiative between Kiva and Credo, enables the rural poor and inexperienced people to get a loan for starting or re-starting businesses. George's application was approved under the framework of this program to get a loan of GEL 4,000.

George plans to open a food market. He will purchase a stock of a wide assortment of products to offer his clients. George hopes that the business will be successful as the place becomes very crowded.

The new business initiative will significantly increase the income of his family, and with increased income, they will be able to expand the business in future as well as improve their 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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,901,050
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
A loan of $2,425 helped George to open a food market.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Aug 10, 2013
Sep 12, 2013
Currency Exchange Loss:
Oct 12, 2013