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Gulnara is 65 years old. She is married and lives with her husband and son in Dusheti district. Gulnara and her husband are provided with a retirement pension. The family has no other source of income. Gulnara has a commercial space where she opened a food market, but she does not have enough money for purchasing a stock of food and groceries to sell.

She requested a loan, but as the family belongs to the subsistence poor category, and they have no source of income and live in poverty, she lacks the access to capital markets and financial institutions to obtain credit for starting a business. These institutions require stable income and business experience.

The Start Up program created by Kiva and Credo enabled Gulnara to get a loan of $1,800. She will purchase a stock of merchandise such as food, groceries and household goods. Gulnara thinks that the business will be profitable, as it is in a great location and the only business of this kind in the area.

After the food market is filled, she will be able to offer a wide assortment of products to her customers and the family will have a stable income which will enable them to cover everyday costs as well as expand the business in the future. With the support of the Start Up program, Gulnara will get an opportunity to be involved in her own business and tackle any 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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $8,094,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Gulnara to purchase a stock of food for her newly opened market.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 21, 2013
Sep 22, 2013
Currency Exchange Loss:
Sep 17, 2014