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Papuna is a 24-year-old man, from Kutaisi city. His only family member is his grandmother, who gets monthly assistance from the local government.

Papuna is unemployed at this moment, in spite of having high education. He has great desire to seek a fortune in private business. He decided to start his fast food business with a loan, but the local credit providers usually demand experience and some stable income from the borrowers. His credit requests were rejected several times since Papuna didn't satisfy their requirements.

Papuna received credit in the framework of a joint initiative between Kiva and Credo called the Start-up Program, which gives rural poor people the chance to start or re-start businesses.

With the loan of USD 1,200, Papuna will purchase inventories, such as a display, refrigerator, machine tools, and furniture for his business. This will give him a chance to earn his own income and not depend on others. He dreams to save enough money to provide a secure future for his little 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,091,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Papuna to open a fast food business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 13, 2013
Jan 10, 2014
Currency Exchange Loss:
Sep 21, 2014