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Vasil is 52 years old. He lives alone in a village of Akhmeta District. Vasil is employed as a building worker in the village and earns 250 Laris per month. According to Credo estimations, he belongs to the vulnerable poor category.

Vasil requested credit for restarting of an agricultural business. Two years ago he was running a cattle-breeding business, but he sold the cattle, as he didn’t have a job for a long time and needed money to finance daily costs for food. Now he received a loan in the framework of a start-up loan program, initiated jointly by Credo and Kiva. This program aims at provision of business start-up or business re-start loans to Georgian rural poor, who do not have access to regular credit products, as they live in poverty and are regarded as “borrowers with high risk of default”.

With the requested loan, Vasil will purchase calves and raise them for 5-6 months. In early fall he will sell calves and get income. Vasil plans to expand the business in the future, through purchasing more and more calves. The business will give Vasil additional income and he will be able to live in better 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
  • 49
    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 Vasil to purchase calves.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Mar 14, 2012
Mar 20, 2012
Currency Exchange Loss:
Jun 15, 2012