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Piruz is a 53-year-old married man, who lives in the village Ertisi, in the Tetritskaro district. He lives with his mother and wife. Piruz's mother receives monthly assistance from the local government of 150 GEL. To take care of his family's needs, Piruz is engaged in cattle breeding and poultry raising. He realizes income from selling the milk products in the local market, which is the main source of the family's income. Piruz's wife helps him greatly in his everyday activities related to farming. To generate more income and earn economic stability for his family, Piruz needs a loan of 2,000 GEL to open a traditional Georgian bakery. He will bake bread and sell it among villagers. His request has now been approved within the framework of Kiva and Credo and he is able to use the start up loan for setting up a bakery located near his house. Piruz and his family members rely on the goodwill of the lenders and will be thankful to them for their support in collecting the needed loan to sustain his business.

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
  • $8,073,000
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Piruz to open a traditional Georgian bakery.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 9, 2013
Dec 30, 2013
Currency Exchange Loss:
Jan 22, 2015