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Meliton is 59 years old. He lives in a small village of the Akhmeta District. He lives alone. His only source of income was a milk cow. Meliton used to produce dairy products and sold most of them in the village. At the moment, the cow has stopped milking and he is left without any income. According to Credo estimations he belongs to the subsistence poor category.

Meliton requested credit for purchasing calves. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits, with soft conditions to the 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 Meliton will start up a dairy farm. He will purchase 3 calves and grow them. The calves will be placed in an old cattle-shed located in Alex’s yard. After half a year he will start the production of cheese and sell it on the local market to dairy products retailers. His income will increase by 250 - 300 Laris and Meliton will be able to improve his living conditions.

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
  • 35
    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 $750 helped Meliton to purchase calves for the start-up of a dairy farm.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
May 10, 2012
May 13, 2012
Currency Exchange Loss:
Jun 17, 2013