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Elena is 59 years old. She lives in a small village in Kutaisi District with her family, her husband Goderdzi, their 28-year-old daughter, and 6-year-old grandchild. Her daughter is a seller in the village shop and gets a salary. Elena and her husband are busy with agricultural activities. They have a milking (dairy) cow. Elena produces cheese every day and sells it at the local market. Also, they have a plot of land where maize is grown. The family’s total average monthly income is 700 Laris. Although the family members work hard, they still don’t have enough income to put away some savings for purchasing additional needed household goods or renovation of the house.

Elena requested a loan for purchasing construction materials. They are going to repair the house, because the existing one is old and uncomfortable. As a result, the family will be able to spend their evenings after a day of hard work in a more comfortable environment and improve their 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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Georgia

  • $6,100
    Average annual income
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Elena to repair her house.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 7, 2012
Jun 14, 2012
Currency Exchange Loss:
Feb 15, 2013