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Zurab is a 49-year-old married man who lives in a small town of Gori district with his wife and two school-aged children. Zurab is the only one who makes money in his household. Specifically, he is employed by a private auto company and provides the organization with the technical materials. His small wage is hardly enough to cover food and everyday expenses. That is why Zurab decided to start his own business. All of the financial institutions rejected his loan requests because of his lack of experience in the business.

After several unsuccessful attempts, Zurab applied for credit to MFO Credo. His request was approved in the framework of a Start Up program, which is a joint initiative with Kiva. This program enables the vulnerable poor to start or re-start businesses. A loan of $2,000 will help him to purchase a minibus. Once the minibus is purchased, he will transport passengers on the minibus line in return for a service fee. This will significantly increase the family income.

With the increased income, he will be able to improve the living conditions of his family members.

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
  • $7,908,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $2,000 helped Zurab to purchase a mini-bus and transport passengers inter town.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Aug 13, 2013
Sep 15, 2013
Currency Exchange Loss:
Oct 15, 2013