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Temur is 53 years old. He lives in a small village of Khoni District, West Georgia with his family: his wife Tamila and two sons (31 and 27 years old). Tamila is a housewife, her sons are unemployed. The only source of income for the family is a milk cow. Tamila produces cheese and sells it in the village. Total average monthly income of the family is 300 Laris. They live in poverty.

Temur is a joiner. He has a small furniture-making workshop in his house, which is stopped at the moment, as Temur couldn't get financial resources for purchasing raw-materials. He requested credit for buying wooden materials for restarting the workshop.

Temur's loan request was approved in the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor, who do not have access to credit, being regarded as "high risk borrowers" because of low income.

With the borrowed funds Temur will be able to re-start the production of furniture, which will be sold in a nearby town. The income of the family will double. For the first year Temur plans to reinvest his profits in the workshop, to increase the volume of production and sales. As a result of the family's increase in income its 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Temur to purchase wooden materials for furniture production.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 12, 2012
Mar 19, 2012
Currency Exchange Loss:
Oct 15, 2012