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Resan is a 51-year-old married man, who lives in the village of Ortabatumi. He lives with his retired parents, two married and grown sons, and a granddaughter. One of his daughters-in-law works as a nurse at the nursery school, and his sons are artisans. They get monthly salaries. Resan runs a small-scale agricultural business. In particular, he owns a citrus garden, and four beehives with bee colonies. Resan and his family members work hard all day long to earn their living, but their existing income is not enough to cover food and the everyday expenses of such a large family. That is why Resan decided to start his own business.

All of the financial institutions rejected his loan requests, because of his unstable financial condition and lack of experience. After several unsuccessful attempts, Resan applied for credit to MFO Credo. His request was approved in the framework of a Start-Up program, which is a joint initiative with Kiva. This program enables the vulnerable poor to start or re-start businesses. A loan of $5000 will help him to purchase a minibus. He will work on the minibus line, transporting passengers from his village to Batumi city. The new business initiative will significantly increase the family funds. With the increased income, he will be able to improve the living conditions of his family members.

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
Paying Back

This loan has been fully funded!

A loan of $5,000 helped Resan to purchase a minibus and work on the minibus line.
64% repaid
Repayment Term
33 months (Additional Information)
Repayment Schedule
Sep 24, 2013
Oct 27, 2013
Currency Exchange Loss: