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David, a 31-year-old married man, lives in a small village in the Chokhatauri district with his wife and parents. His father is provided with a retirement pension, while the family is involved in agricultural activities.

With their cow and two calves, the family produces cheese for selling. David works hard on family-owned agricultural land, growing maize and nut trees. His high-quality products are sold to local retailers for a good price.

As the family has only seasonal income, David decided to start a transportation business. He sought credit from local financial institutions, but his attempts were unsuccessful because of his poor living conditions. A startup program, a joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get a loan for starting or re-starting businesses. His application was approved under the framework of this program for a loan of 3400 Gel.

With the received credit David will purchase a truck to transport a variety of cargo, thereby increasing the family's income. The new business initiative will give him a chance to have financial stability and a 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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,912,575
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
A loan of $2,075 helped Davit to purchase a truck to start a transportation service.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Aug 19, 2013
Sep 21, 2013
Currency Exchange Loss:
Oct 21, 2013