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Lali, age 57, is a music teacher. She lives in a village in the Tskaltubo district with her 24-year-old son Iason. Lali earns a monthly salary of 200 Laris per month. Iason keeps busy running the family's small-scale dairy farm. They have two milk cows and produce cheese to sell at market. Iason sells an average of 35 kilograms of cheese at the local open market per month.

Lali has requested credit for the purpose of building a greenhouse. The new business will be an additional source of the income for the family, which will allow them to combat the poverty in which they live. Lali’s loan request was approved within the framework of a new joint initiative between Kiva and Credo. This start-up loan program offers business start-up capital and re-startup credit with generous lending conditions to country rural poor, who often do not have access to credit as they are regarded as “high risk borrowers” because of their low income.

With the received credit, Lali will purchase materials for greenhouse construction (iron pillars and polyethylene covering) and will then construct the greenhouse, where vegetables and greens will be grown throughout the year.

Lali and Iason will work in the greenhouse themselves. They will sell their harvested produce at the local open market. The income of the family will significantly increase and they 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
  • 51
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Lali to purchase materials for greenhouse construction.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Mar 14, 2012
Mar 19, 2012
Currency Exchange Loss:
Sep 17, 2013