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Sopio is 27 years old. She lives in village Ude, South Georgia with her husband George and her 5-year-old son. Sopio requested a loan from local financial institutions several times for trade business start-up, but without any success. Her loan request was rejected all the time, because of insufficient current income of the family.

The only source of income for the family is small scale agricultural activities. They have a plot of land, where they grow vegetables. Sopio sells harvested products on the local open market. Their average monthly income totals 500 Laris. According to Credo estimations, the family belongs to the subsistence poor category.

Sopio requested a loan from Credo to start-up a trade business. She will purchase a car, take clothing and family goods from Tbilisi (capital city of the country) wholesale markets and sell them in her and nearby villages with a price mark-up. Her loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-start-up 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. The new business initiative will increase the monthly income of the family by 200 laris and the business won’t have a seasonal character. The family 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Sopio to purchase a car for trade business start-up.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Aug 17, 2012
Sep 3, 2012
Currency Exchange Loss:
Feb 17, 2014