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Tamar is from the village of Ude in the southern part of Georgia. She is 56 years old and lives with her husband Peter and 87-year-old mother-in-law. Tamar and Peter have children, but they are married and live separately. Tamar requested a loan from local financial institutions several times for her sales business start-up but had no success. Her loan requests were rejected all the time because of her low income and the family’s poor living conditions.

Tamar and Peter have a milk cow. Tamar produces cheese and sells it in the village. Peter also grows potatoes on the family-owned 0.6 hectare land. He sells the harvest to local wholesalers. The family's total average monthly income is 350 Laris. According to Credo estimations, the family belongs to the subsistence poor category.

Tamar has requested credit for starting up a sales business. The family owns an old small truck, which Tamar and Peter will use for the business. With the requested credit, Tamar will purchase seasonal fruits and vegetables from local farmers and take them with the truck to nearby towns for sale. Tamar will sell the products with a price mark-up and get the profit. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. As a result of the new business initiative, implemented with the assistance of Kiva, the family will get more income. Tamar will be able to assist her children financially and improve her family's living conditions. She plans to increase the volume of trade gradually by reinvesting part of the profit into business.

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
  • 43
    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 Tamar to purchase fruits and vegetables.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Jun 11, 2012
Jun 20, 2012
Currency Exchange Loss:
Apr 17, 2015