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Ivane is 35 years old. He lives in Imereti District, West Georgia with his wife Tiniko and his mother. Ivane’s mother is unemployed; Tiniko works in a local entity and gets monthly salary of 100 Laris. Ivane leads the family’s small-scale agricultural business which is the main source of income for the family. He has a vineyard and produces wine, which is sold in the village. Also, they have several nut trees and sell nuts on the local open market. Ivane requested a loan from local financial institutions several times for a business start-up, but without any success. His loan request was rejected all the time, because of his low income and family’s poor living conditions.

The average monthly income of the family is 300 Laris. According to Credo estimations the family belongs to the subsistence poor category.

Ivane requested a loan from Credo to start-up a business trading fruits and vegetables. His 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-start-up credits with soft conditions to the country’s rural poor, who do not have access to credit products, as they are regarded as “high risk borrowers” because of their low income.

With the received credit Ivane will purchase seasonal fruits, mainly watermelons and melons, as well as peaches and pears. He will sell the products in Kutaisi, the largest town in West Georgia. In fall he will trade with seasonal citrus and grapes and in winter/spring with seasonal vegetables. So he will earn income each season. The new business initiative, financed with the Kiva start-up loan will significantly increase the income of the family. It will allow them 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
  • 29
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Ivane to purchase fruits and vegetables for resale.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 10, 2012
Aug 30, 2012
Currency Exchange Loss:
May 17, 2014