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George is 28 years old. He lives in a small village in the Telavi District, East Georgia. George lives with his family: his wife Nina and their two-year-old daughter. George works in a local factory as a supervisor. His monthly salary is 400 laris, and it is the only income for the family. The family lives in poverty.

George has requested a loan to restart a livestock farm. He used to have a small dairy farm where he also raised calves. When his father became ill, George sold all of his cows and calves to raise money to pay for medical expenses. With the requested loan, George will purchase seven or eight calves and raise them for 5-6 months. After this period, he will sell them for a higher price to provide additional income for the family, which will significantly increase their income and improve their living conditions.

George’s loan request was approved through a new joint initiative of Kiva and Credo. The start-up loan program provides business start-up and restart-up loans with soft conditions to the rural poor. They often do not have access to credit, being regarded as “high risk borrowers” because of their low income. With this loan, the family's the living conditions will significantly improve; in addition, they will have enough income to access regular credit products available in country’s capital market in the future, should the need arise.

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
  • $8,643,950
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,850 helped George to purchase calves.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Mar 27, 2012
Apr 9, 2012
Currency Exchange Loss:
Feb 15, 2013