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Teimuraz is 54 years old. He lives in Telavi District with his wife, Liana, a housewife. Teimuraz works as an agricultural worker in the village, earning 100 Laris per month. His salary is too small for the family and they live in poverty.

Teimuraz requested a loan to purchase calves. He used to have livestock but the business was stopped 8 years ago because of lack of funds. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages 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.

Teimuraz will use this loan to restart his business. He will purchase 6 calves and raise them. The calves will be placed in an old cattle shed located in the family yard. In six months, Teimuraz will sell the grown calves and get the income. For the first year, Teimuraz will reinvest the profit in the business to expand it and increase turnover. The family will get additional income, their living conditions will significantly improve and, in the future, they 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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Teimuraz to purchase calves.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
May 2, 2012
May 6, 2012
Currency Exchange Loss:
Jan 15, 2013