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Ioseb is a 30-year-old married man who lives in the small village of Pshaveli, Telavi district. He lives with his wife, 4 children and parents. Ioseb's parents receive a retirement pension.

He has been involved in the agricultural business from early childhood because his parents were farmers and this is a traditional activity for the family. Ioseb's wife is a housekeeper and looks after the children. They have 3 cows, a horse and 8 pigs.

Ioseb works hard to improve his family's living conditions. The Start Up program created by Kiva and Credo enable Ioseb to get a loan of 2,500 GEL to start a pharmacy business. He wants to open the pharmacy to supply villagers with medicine. This loan will be a great support for the family. Ioseb is thankful to Kiva Lenders for giving him a chance to generate income.

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
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Ioseb to open a pharmacy.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Nov 20, 2013
Dec 22, 2013
Currency Exchange Loss:
Jul 17, 2015