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Sopiko is a 22-year-old young woman, from the village Kvenatkotsa. She has a six-member family and only two of them are employed. In particular, Sopiko's husband works as a private worker and generates insignificant income, and her father-in-law is a worker at a sugar factory. In order to improve her family's living conditions and be involved in her own business, Sopiko has planned to start a clothing business. She requested a loan to MFO Credo, which finances start-up businesses. Sopiko was approved for a loan of 1,500 GEL and will purchase clothing at wholesale prices to sell in her community. Sopiko will be able to have her own income and satisfy a few needs of her family herself.

She will be grateful for Kiva lenders' help and will do her best to develop her business. Sopiko awaits your support and kindness.

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
  • 54
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • 1.8
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Sopiko to start a clothing business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jun 18, 2014
Jul 18, 2014
Currency Exchange Loss:
Oct 17, 2015