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Elene is 45 years old. She lives with her daughter, Tamta, in a small village in the Kvareli district. Tamta works as a sales officer at a local financial institution and gets a small monthly income. Elene is involved in agricultural activities. In particular, she has a vineyard and a small plot of agricultural land, where she grows nut trees. Elene is a very hardworking woman and does her best to insure a good harvest. She sells the harvested products at local supermarkets.

Elene has decided to start a trading business and has requested a loan. The Start up program, which is a joint initiative of Kiva and Credo, enables her to get a loan of 2,000 GEL. She will use the received credit to purchase used clothes which she will then resell among her villagers. This will increase her income and Elene will be able to improve her family's living conditions.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • 1.8
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Elene to begin selling used clothes.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Mar 29, 2014
Apr 25, 2014
Currency Exchange Loss:
Jul 17, 2015