Check out other loans that are currently fundraising!
David is thirty-four years old. He lives in Tskaltubo District with his family: his wife – Sopiko, his nine-year-old daughter and six-year-old son as well as his retired father. The children go to local school. The only source of income for the family is a small-scale agricultural business. They have a milk cow and 200 nut trees on a family-owned plot of land. Sopiko produces cheese and sells it in the village. Nuts are sold in the village as well. The total average monthly income of the family is 270 Laris, including social assistance. According to the country’s government assessment they are regarded as living under the poverty line and receive relevant social assistance.

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

With the received credit David will start-up a trade business. He will purchase fruit and vegetables from local farmers at wholesale prices and take them in his own car to nearby towns for resale. As a result of the new business initiative the income of the family will significantly increase and the family will be able to improve their living conditions. In addition to the above-mentioned 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.

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
  • 48
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped David to purchase fruit and vegetables for resale.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Apr 20, 2012
Apr 30, 2012
Currency Exchange Loss:
May 17, 2013