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Genad is 52 years old and a married man. He lives in a small village of Martvili district with his wife, two children, and mother. His mother is provided with a retirement pension. His daughter works at a local bakery as a baker, and she gets a small monthly income. Genad has been involved in the agricultural business from early childhood, because 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, Genad was unable to study for a professional career.

Genad works hard on family-owned agricultural land. He has a vineyard and grows nut trees. He always has high-quality products, which are sold to local retailers for a good price. Besides the agricultural activities, he trades in fruits and vegetables seasonally. As the family has only seasonal income, Genad decided to open a grocery store. He sought credit among local financial institutions, but his attempts were unsuccessful because of his poor living conditions.

The start-up loan program, a joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get a loan for starting or re-starting a business. Genad's application was approved under the framework of this program, and he will get a loan of $5000 US. With the received credit, he will purchase a stock of groceries and will open a grocery store. He will offer a wide assortment of products to his customers, to satisfy them. The new business initiative will give him a chance to have financial stability and monthly 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
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $5,000 helped Genad to purchase a stock of groceries and open a grocery store.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 20, 2013
Sep 21, 2013
Currency Exchange Loss:
Oct 21, 2013