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Zelimkhan is 52 years old and lives in a small village of mountainous Kakheti. He is married and lives with his family: his wife, Lamara, and three children, Yusuf, Ibragim and Adam. The family lives in poverty. Their only source of income is small scale agricultural activities – they have a vineyard and grow maize (corn) on a small family-owned plot. Their total average monthly income is 100 Laris.

Zelimkhan has requested a loan to start up two businesses – a grocery store and a canteen in the village. The necessary furniture and equipment were purchased by Zelimkhan couple of years ago with funds he collected abroad from his hard work, but he doesn't have funds to start operating these businesses. With this loan, he will buy grocery products to sell in the store. He will work as the salesman himself. Another part of the loan will be used to buy products for his canteen. There will be three persons employed by the canteen – a cook, one waiter and one dishwasher/cleaner. According to Zelimkhan’s estimations, both businesses will be profitable and will expand in the future.

Zelimkhan’s loan request was approved within the framework of a new joint initiative between Kiva and Credo. This start-up loan program envisages helping start-ups and re-startups with credits to rural poor who do not have access to credit and are regarded as “high-risk borrowers” because of low income.

The living conditions of the family will significantly improve and the family will have enough income to access regular credit products available on country’s capital market.

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
  • 29
    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 Zelimkhan to buy products for a grocery store and canteen.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Mar 14, 2012
Mar 20, 2012
Currency Exchange Loss:
Jan 18, 2014