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Aluda is from the village of Maghlaki, West Georgia. He is thirty-eight years old and lives with his family: his wife – Rosa, two sons (10 and 8 years old) and his parents who are retired. The only source of the income for the family is a dairy farm. Rosa produces and sells cheese on the local market. The total average monthly income of the family is 600 Laris, including the pensions of Aluda’s parents.

Aluda requested credit for re-starting a family business. The family has a small bakery, which used to be used for production of confectionery products. The problem which caused the bakery to close a couple of years ago was the lack of clients in the village. If Aluda could take the products to neighboring districts and villages, he could sell them.

Aluda requested credit to purchase a small mini-bus to transport the bakery products. He will sell them to the grocery shops in nearby villages. Also he will sell through the same channels their cheese for a higher price.

Starting up this business again will significantly increase the income of the family. They will be able to purchase additional household goods, 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
  • 31
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Aluda to purchase a mini-bus for distribution of bakery products.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Jan 31, 2012
Feb 6, 2012
Currency Exchange Loss:
May 17, 2013