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Leila is from Martvili District, West Georgia. She is 67 years old, married and lives with her husband: Valenti. Leila and Valenti have requested loans from local financial institutions several times for their agricultural business start-up, but without any success. Their loan request was rejected each time, because of low income and the family’s poor living conditions.

Valenti and Leila are refugees from the Abkhazia Region, as a result of the armed conflict in 90s. The main source of the income for the family is a small vineyard with 200 vine trees. Valenti produces wine and sells it on the local open market. In addition, the family gets monthly social assistance for refugees and a pension. The total average monthly income doesn’t exceed 270 Laris, including pensions and social assistance. According to Credo estimations, Leila's family belongs to the subsistence poor category.

Leila has requested a loan from Credo for purchasing a milking cow. Her loan request was approved in the frames 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 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 Leila will purchase a milking cow. She will place the cow in the old cattle-shed, located in family yard. Leila will milk the cow twice a day and produce cheese. She will be able to sell, on average, 20 kg of cheese per month on the local open market. The new business initiative, financed with the Kiva Start-up loan, will increase the average monthly income of the family by 40 - 45%. The family members will be able to increase their spending to satisfy their daily needs, in order to 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 Georgia

  • $6,100
    Average annual income
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Leila to purchase a milk cow.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 12, 2012
Jun 25, 2012
Currency Exchange Loss:
Jul 17, 2013