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Irakli is twenty-seven years old. He is married and lives in the village of Ikalto, East Georgia. He is married and lives with his wife Alisa, their one-year-old son and Irakli's grandfather who is a pensioner. Irakli works as a baker in a local Georgian traditional bread-bakery. His monthly salary depends on the amount of bread baked during the month. On average he gets 300 Laris per month. Alisa is mainly busy with her little son. According to Credo estimations the family belongs to the subsistence poor category.

Irakli plans to start-up a pig farm, but he doesn’t have enough financial resources. He tried to get credit from several local finance institutions, but was refused, because of the family’s low income, which makes him “a risky client”. Irakli’s 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 their low income.

With the received credit Irakli will purchase 10 piglets. He will grow them and sell the grown piglets at a higher price. Irakli will get more income. He plans to reinvest it in the same business and purchase more piglets. He will expand his business. The family will get additional income and they will be able to provide better care for their little son, as well as other family members. In addition to the above-mentioned, in the future Irakli 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
  • 48
    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 $1,000 helped Irakli to purchase piglets.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
May 29, 2012
May 31, 2012
Currency Exchange Loss:
Jan 18, 2014