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Razhden is 39 years old. He lives in Kutaisi District, West Georgia, with his big family: his wife Natia, two sons (14 and 7 years old), and parents (pensioners)

Razhden requested a loan from local financial institutions several times for the family business start-up but without any success. His loan request was rejected all the time because of insufficient income.

The main source of income for the family is its agricultural business. They have three milk cows. Part of the dairy products is consumed by family members, and the other part is sold on the local market.

The average monthly income of the family is 600 Laris, including the monthly pensions of Razhden’s parents. According to the Credo estimation, the family belongs to the subsistence poor category.

Razhden requested a loan from Credo to start-up a new business – he plans to construct a greenhouse. His loan request was approved in the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages providing a business start-up and then restart-up credits with soft conditions to the country's rural poor. They do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Razhden will buy construction materials for greenhouse construction. He will grow cucumbers, tomatoes, and greens in the greenhouse during the whole year. Natia and Razhden’s parents will be actively involved in the greenhouse works. The family will sell harvested vegetables and greens on local open market.

The new business initiative will significantly increase the income of the family and contribute to improvement of 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
  • $8,578,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Razhden to purchase materials for a greenhouse construction.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 21, 2012
Sep 4, 2012
Currency Exchange Loss:
Aug 17, 2013