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Valeri is 56 years old. He lives in the Khoni district with his 14-year-old daughter Khatia. She goes to school. Valeri’s wife is out of the country. She works abroad and helps her family financially. Valeri grows maize on a family-owned plot of land. He sells harvested maize in the village. The total average monthly income of the family equals 200 Laris. The family lives in poverty.

Valeri requested credit for the start-up of a grocery store. He has constructed a small building for the store. It is located near his house. With the requested credit he will purchase refrigerators for the store as well as some grocery products for resale. According to his estimations, his store will work well, as there are no more similar stores. Also he will attract clients with quality service and a wide assortment of products.

Valeri’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-ups and re-startup credits, with soft conditions to the country rural poor who do not have access to credit products, as they are regarded as “high risk borrowers” because of their low income. After the start-up of the business, the living conditions of the family will significantly improve and they will have enough income to access regular credit products available on the country’s capital market, in case of need.

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
  • 52
    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 $1,225 helped Valeri to purchase refrigerators for the start-up of a grocery store.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Mar 30, 2012
Apr 19, 2012
Currency Exchange Loss:
May 17, 2013