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Irakli is 30 years old. He comes from a small village of Vani District, West Georgia. Irakli is married and lives with his family, wife Larisa, two children (3 and 1 years old) and mother Natela. Larisa and Natela are housewives. Irakli is the only income provider in the family. He grows maize on a family owned plot of the land. Most of the harvest is used by the family and the small surplus is sold on the local market. The family also grows 100 nut trees selling the harvested nuts to local nut exporters. According to the local government’s estimations (designation), the family belongs to the 'vulnerable poor' category. They receive relevant social assistance. Total average monthly income of the family is 275 Laris, including social assistance.

Irakli requested credit for the start-up of a trade business. He will purchase fruits and vegetables at wholesale prices and resell them on the local retail market. His loan request was approved within the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisions the provision of business start-up and re-startup credit with soft conditions to the country's rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Irakli will be able to purchase fruits and vegetables. For the first time, Irakli will reinvest the whole profit in the business in order to expand it. In the long run, the income of the family will increase and they will be able to improve their living conditions. Along with the above, the family, if needed, will have enough income to access regular credit products available on country’s capital market.

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
  • 46
    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 $400 helped Irakli to purchase fruits and vegetables for resale.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Apr 30, 2012
May 5, 2012
Currency Exchange Loss:
Sep 17, 2013