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Valodia, 51 years old, lives in a village in Telavi District, East Georgia with his wife, Marine, and his retired father. The family owns a vineyard from which Valodia produces wine to sell in the village. Total average family monthly income is 200 Laris. According to Credo estimations, they belong to the subsistence-poor category.

Valodia has requested a loan to begin a new agricultural business, the raising of calves. He will purchase 10 – 11 calves to raise in an old cattle-shed located in his yard. After six months he will sell the grown calves for a profit. Valodia hopes that with a second future loan he will be able to purchase more calves to raise. The family's income will significantly increase, and the family members will be able to improve their living conditions. Also, in the future the family will have enough income to access regular credit products available on the country’s capital market, in case of need.

Valodia's loan request was approved within the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages the provision of business start-up and follow-up loans to the country's rural poor, who do not have access to credit products since they are regarded as “high risk borrowers” because of low income.

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
  • 28
    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 Valodia to purchase calves.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Mar 30, 2012
Apr 12, 2012
Currency Exchange Loss:
Dec 15, 2012