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Yuri is from the Khoni district, West Georgia. He is married and lives with his wife, Rita, his 7-year-old daughter, and his mother. Yuri works as a worker in a local lemonade factory. He works, on average, eight hours each day and earns 250 Laris each month. Also, the family has a small piece of land for a vineyard. Most of the harvest is consumed by the family; only a small surplus is sold to the local market. The family lives below the poverty line, and they receive relevant social assistance from their local government. According to Credo estimations, the family belongs to the vulnerably poor category.

Yuri has been planning to start up a family dairy farm for one year, but he didn’t have enough money. He couldn’t get credit from financial institutions because of his poverty and lack of business experience. His loan request was approved in the frames of a new joint initiative between Kiva and Credo. The start-up loan program provides business start-up and restart-up credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high-risk borrowers” due to their low-income status. With the received credit, Yuri will purchase a cow. Rita will produce cheese, and Yuri’s mother will sell it on the local open market. The income of the family will double, and Yuri will be able to provide better living conditions for his little daughter. In addition to the above mentioned, Yuri’s family will have enough income to access regular credit products available on 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
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Yuri to purchase a cow to start up a dairy farm.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
May 22, 2012
May 31, 2012
Currency Exchange Loss:
Apr 17, 2013