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Aivaz is a 52-year-old, married man. He lives in Bolnisi district with his wife and son. He has been involved in the agricultural business from early childhood since his parents were farmers and this is a traditional activity for the family.

Sadly, for lack of economic resources and because he had to start working at a very young age, Aivaz was unable to start a professional career. Aivaz works hard on family-owned, agricultural land, growing maize, haricots, and potatoes. He always has high-quality products, which are sold to local retailers for a good price.

Since the family only has seasonal income, Aivaz decided to open a grocery store and seek credit among local financial institutions, but his attempts were unsuccessful because of his poor living conditions.

A start-up program that is a joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get a loan for starting or re-starting businesses. Aivaz's application was approved under the framework of this program, allowing him to receive a loan of GEL 2,000.

With the received credit, he will renovate a space located near his house and purchase a stock of groceries. Aivaz thinks that the business will be profitable since it is in a great location and is the only business of this kind in the area.

After the general store is opened, the family will have a stable income, which will enable them to cover everyday costs and expand the business in the future. With the support of the start-up program, Aivaz will get an opportunity to be involved in his own business and tackle the financial difficulties.

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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Aivaz to open a grocery store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 16, 2013
Sep 17, 2013
Currency Exchange Loss:
Sep 17, 2014