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Kitessa lives in the village of Gulgula, in East Georgia. He is 55 years old and lives with his wife, Assmat and 32-year-old daughter, Marine. Kitessa is the sole income provider in the family. He works as a taxi driver and provides transportation services to the local population. The family’s total average monthly income is 300 laris. They live in poverty.

Kitessa has requested a loan to start-up an agricultural business. He will purchase seven to eight calves and raise them for a period of five to six months. In the fall, grown calves will be sold for a higher price and the family will gain additional income. Kitessa plans to reinvest part of the income in the business. He will use the remaining income to finance family needs and 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
  • 46
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Kitessa to purchase calves.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Feb 22, 2012
Feb 26, 2012
Currency Exchange Loss:
Dec 15, 2012