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Badri is from Zemo Alvani village in East Georgia. He is 30 years old, unmarried and lives with his father (a pensioner) and 28-year-old sister. Badri’s mother lives and works abroad to assist the family financially. Badri and his sister are unemployed. Badri requested a loan from local financial institutions several times for a small scale business start-up, but without any success. His loan request was rejected every time, because of his low income and his family’s poor living conditions.

The only source of income for the family is the pension of Badri’s father and financial assistance from his mother. The total average monthly income of the family doesn’t exceed 300 Laris. It is hardly enough for food for a three-member family. According to Credo estimations, Badri’s family belongs to the vulnerable poor category.

Badri requested a loan from Credo to start up a joiner’s workshop. His loan request was approved in the frame of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to countryside rural poor, who do not have access to credit products and are regarded as “high risk borrowers” because of their low income.

Badri has worked as a joiner in the past. He used to make wooden furniture – mainly chairs and tables. With the received credit he will purchase wooden materials and a joiner’s plane. Badri is sure that his start-up business will be successful, as his district recently became quite popular among tourists. Thus, small hostels are being constructed. Badri will supply them with quality furniture for a convenient price.

The new business initiative, financed with the Kiva Start-up loan, will increase the income of the family by 100%. 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
  • 45
    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 Badri to purchase a joiner's plane and wooden materials.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jun 21, 2012
Jun 29, 2012
Currency Exchange Loss:
Jun 17, 2013