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Tamaz is 31 years old. He lives in a small village of Kakheti Region with his family, his wife Madina and three children (6, 5 and 2 years old). Madina is a housewife. She cares for her family. Tamaz is the only income provider for the family. He works as worker in the village. The total average monthly income of the family is 200 Laris. According to Credo estimations, the family belongs to the subsistence poor category.

Tamaz has requested credit for re-starting an agricultural business, which was stopped 2 years ago, because of lack of funding. Tamaz used to trade with livestock. Now, he has requested credit for restarting the business. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages provisions for business start-up and re-startup credits with soft conditions for the country's rural poor population, which do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Tamaz will purchase 8-9 calfs and grow them. Calfs will be placed in an old cattle-shed, located in Tamaz’s yard. After a half year, he will sell grown calfs for higher prices and get the profit. For the first 3 cycles, Tamaz will reinvest most of the profit into the business, to increase the turnover. The income of the family will increase and they will be able to combat the poverty. 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $1,700 helped Tamaz to purchase calfs.
Repayment Term
13 months (Additional Information)
Repayment Schedule
Apr 27, 2012
Apr 30, 2012
Currency Exchange Loss:
May 30, 2012