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Avtandil is a 66-year-old married man. He lives in a small village in Samtredia District with his wife and son. The family is involved in agricultural activities. In particular, they have two cows and produce cheese to sell. In addition, they have a 0.3 hectare plot of agricultural land where maize is grown to sell.

Avtandil is very hard working man and always has high quality products which is sold at a good price. He decided to open a bakery and requested a Start Up loan. The Start Up loan, which is a joint initiative with Kiva and Credo, enables him to get a loan of 2100 Gels and open a bakery. When the bakery is opened Avtandil will start baking Georgian bread to sell. This will increase the income for his family. The Start Up program will be a great support for his family.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,094,625
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,275 helped Avtandil to open a bakery.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Oct 4, 2013
Oct 24, 2013
Currency Exchange Loss:
Dec 17, 2014