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Elvira is a 51-year-old woman. She lives with her two children in Marneuli district. Elvira is currently unemployed. Her children go to school. There is a high unemployment rate in the region, but self-employment helps its inhabitants to make living.

For this reason, Elvira decided to start a trading business with a loan, but local credit providers usually demand experience and some stable income from the borrowers. Elvira's credit requests were rejected several times, as she was unable to satisfy their requirements. She received this credit within the framework of a joint initiative between Kiva and Credo called the Startup Program, which gives rural poor people the chance to start or re-start businesses.

With this loan of $650, Elvira will purchase stock of fruits and vegetables and then sell them. This will give her a chance to generate income and provide a better future for her children.

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
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $650 helped Elvira to begin buying and selling fruits and vegetables.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Aug 30, 2013
Oct 4, 2013
Currency Exchange Loss:
Aug 17, 2014