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Mevludi is applying for a loan to start up a bakery in his village and bake traditional Georgian bread: shoti. He is a 55-year-old farmer and cultivates a plot of land where maize is grown. He works hard the whole year to generate income for his family members: his wife, grown son, daughter-in-law, two grandchildren, and a retired mother.

Mevludi's wife is a consultant at the local farmers' center and his son is employed by the emergency center in return for small monthly salaries. The family incomes are modest and that is the reason why Mevludi decided to start this business. He estimates his business will be lucrative as there is high demand for bread in his village.

Mevludi is happy for this startup loan that is offered to poor people for improving their living conditions in future.

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
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,125 helped Mevludi to start a bakery and bake Georgian bread.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 18, 2013
Oct 13, 2013
Currency Exchange Loss:
Apr 17, 2015