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Lali, who is a 50-year-old married woman, lives in the village of Ksovrisi. She has a five member family and only one source of income, Lali's son's fixed salary which is hardly enough to meet their basic needs and cover their everyday expenses. In the region, there is a high unemployment rate but self employment helps inhabitants to make living, so the family decided to start their own business. Lali has requested a loan of 2,000 GEL to purchase stock of wood and open a furniture factory. They have already rented a place and bought all the needed merchandise, but they need an investment to start the factory up.

This new business initiative will be lucrative for this motivated woman and her family. They will be able to get a significant source of income from their factory. Lali and her family rely on the goodwill of lenders and will highly appreciate your help for sustaining this desired 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,924,775
    Funds lent in using Kiva
  • 1.8
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Lali to purchase stock of wood and start making furniture.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Apr 30, 2014
Jun 3, 2014
Currency Exchange Loss:
Jun 17, 2015