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Geghetsik is from the village of Atskuri, in the Southern part of Georgia. She is 49 years old and lives with her 29 year old son and father in law (85 years old). Geghetsik has requested a loan from local financial institutions several times for her agricultural business start-up, but without any success. Her loan request was rejected each time, because of low income and her family’s poor living conditions.

Geghetsik has 2 milk cows. She produces cheese and sells it in the village. She sells the harvest to local dairy products wholesalers. Ther total average monthly income of the family is 350 Laris. According to Credo estimations the family belongs to the subsistence poor category.

Geghetsik has requested credit for start-up of a new agricultural business. 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 for 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 requested credit, Geghetsik will purchase up to 30 calfs. She will place them in a family-owned cattle-shed and feed them during summer and fall months. In winter, Geghetsik will sell the grown calfs for a higher price and get profit. She will use the received profit for purchasing additional milk cows for the expansion of the family farm. Also, Geghetsik will use the profits for improving the family's living conditions. As a result of the new business initiative implemented with the assistance of Kiva, the family will get more income and will be able 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
  • 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 $3,000 helped Geghetsik to purchase calfs.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 19, 2012
Jun 27, 2012
Currency Exchange Loss:
Jul 17, 2013