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Zurab is 26 years old. He lives in the Khoni District of West Georgia with his family: his wife, Tamar, his two sons (3 and 2 years old), his father and grandmother. Zurab is the only income provider in the family. He trades on the local open market, selling nuts and maize. The family lives below the poverty line, and they receive social assistance from the local government. The total average monthly income of the family is 270 Laris, including social assistance. Zurab requested credit for the start-up of a trade business.

His loan request was approved within the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits, with soft conditions to country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Zurab will purchase a mini-bus. He will use it for trade activity, selling fruits and vegetables. He will purchase fruits and vegetables from local farmers at wholesale prices and take them with the mini-bus to nearby towns for resale. According to Zurab’s estimations, the monthly income of the family will increase by approximately 300 Laris, which means a 110% increase. Zurab will be able to create better living conditions for his children, as well as the other family members. Also, the family will have enough income to access regular credit products available on the country’s capital market in the future, 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
  • 51
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Zurab to purchase a mini-bus for trading with fruits and vegetables.
100% repaid
Repayment Term
33 months (Additional Information)
Repayment Schedule
Mar 29, 2012
Apr 19, 2012
Currency Exchange Loss:
Nov 15, 2012