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Elene is 36 years old. She lives in a small village in the Kakheti District, East Georgia, with her family: her husband Temur, her 18-year-old daughter, and her 15-year-old son. Elene’s daughter is a student. Her son goes to school. Temur works as a night watchman at a local private company. Elene leads the family's agricultural business. They have a small vineyard, and Temur sells grapes in the village. The family's total average monthly income is 200 Georgian laris (GEL). According to Credo estimates, the family falls in the subsistence-poor category.

Elene requested credit to start up a new agricultural business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages providing credit to start-ups and re-startups with soft conditions for the country's rural poor, who do not have access to credit products because they are regarded as “high-risk borrowers” due to their low income. Elene will use her loan to purchase and raise 15-17 calves, who will be placed in an old cattle shed in her yard. After half a year, she will sell the grown calves for a higher price and get the profit. For the first 2 cycles of her new business, Elene will reinvest most of the profit to increase her turnover. This will enable the family to increase their income and thereby combat poverty. In addition, in the future, the family will have enough income to access the 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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Elene to purchase calves.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
May 11, 2012
May 17, 2012
Currency Exchange Loss:
Dec 15, 2012