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Romeo lives in the village of Lapankuri, Kakheti Region. He is fifty-seven years old, single, and lives alone. Romeo works as a watchman in a local private dairy farm. His monthly salary is 100 Laris. Romeo owns 0.6 hectares of land, where he grows maize. In the spring and summer months he works hard on his cornfield during daytime and in the evening he goes to the farm, where he stays till morning. According the Credo estimations he belongs to the vulnerable poor category.

Romeo needs money to purchase fertilizers for the cornfield. He tilled the land in April and sowed maize. If he doesn’t use fertilizers, he will get a low quality harvest and will have to sell it for cheap price, which won’t bring any profit. Romeo will also use some part of the credit to purchase piglets to set-up a small pig farm. He wasn’t able to receive the requested loan from local financial institutions, because his income was too small to qualify for regular loan products. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-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” because of low income.

With the received credit Romeo will purchase fertilizers and use them in the cornfield. He will work hard on the plot during the summer to get good harvest. After selling the harvest, Romeo will get profit. Also his piglets will grow and in 7-8 months he will already have 2 pigs, which will give him approximately 18 piglets per year for sale. Romeo will have his own business and his monthly income will significantly improve. The Kiva start-up loan will allow him 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
  • 46
    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 $325 helped Romeo to purchase fertilizers for the cornfield and piglets to start-up a pig farm.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
May 28, 2012
May 31, 2012
Currency Exchange Loss:
Jul 17, 2013