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Gulnazi is a 58-year-old widow, from Rodinauli, Zestaponi district. She has only one 27-year-old son and the family earns a living through agricultural activities. In particular Gulnazi takes care of milk cows and cattle. She sells milk products locally, but the income is insignificant and they live in poverty. Gulnazi has requested a loan from local financial institutions several times for starting a trade business but could not secure funding. Her loan request was rejected each time, because the creditors did not find the existing family income to be sufficient to approve the loan. Gulnazi requested a loan from Credo to start a trading business. Her loan request was approved in the framework of a new joint initiative by Kiva and Credo. The start up loan program provides start up credit with soft conditions for the country's rural poor, who are regarded as "high risk borrowers" because of their low income and do not have access to credit. With the received credit, Gulnazi will purchase materials for sewing bags and will then start trading. The new business initiative, financed with the Kiva start up loan, will significantly increase the family's income and the family members will be able to improve their 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,908,800
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $875 helped Gulnazi to purchase materials for sewing bags to sell.
66% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jul 2, 2014
Aug 7, 2014
Currency Exchange Loss: