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Ivane is 47 years old. He lives in a small village of the Kakheti, Akhmeta District. Ivane is married and lives with his wife Lia and mother (who is retired). Lia works as a teacher in a local kindergarten. The family has a small vineyard and he sells grapes in the fall. The total average monthly income of the family is 250 Laris. According to Credo estimations the family belongs to the subsistence poor category.

Ivane requested credit for start up of a small village business. In particular, he will purchase a small truck. With the purchased truck Ivane will work on transportation. Mainly he will serve local companies for a certain fee. There are many small sawmills and stone-mills, which often need transportation of their products or raw materials.

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

With the received credit Ivane will get an additional source of the income. Also, it is important that his transportation business won't be seasonal. The income of the family will increase and they will be able to improve their living conditions. Along with the abovementioned the family will have enough income to access regular credit products available in 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
  • 46
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $1,800 helped Ivane to purchase a truck for the transportation of goods.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 12, 2012
May 5, 2012
Currency Exchange Loss:
Jun 4, 2012