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Vazha, 51 years old, lives in the village of Mukhiani, West Georgia,with his two adult daughters (25 and 21 years old) and a son-in-law. His wife Shorena works abroad and transfers part of her income to her family to assist them financially. The main source of family income is a small dairy farm, led by Vazha. He has three milk cows from which he produces cheese to sell in the village to local dairy product retailers. According to Credo estimations the family belongs to the subsistence poor category.

Vazha has requested a loan from Credo to restart the family business which was stopped recently due to financial problems. His loan request was approved through a new joint initiative of Kiva and Credo, whose start-up loan program envisages the provision of business start-up and re-startup loans with soft conditions to the country's rural poor who do not have access to credit products because they are regarded as “high risk borrowers” due to low income. Indeed, Vazha had requested loans from local financial institutions several times, but was rejected each time due to his low income.

With the loan, Vazha will renovate family-owned greenhouses, which aren’t functional now due to a state of disrepair. After renovation Vazha will once more grow vegetables in the greenhouses during the whole year, and consequently the income of the family will significantly increase. It will therefore allow him to provide better living conditions for his family.

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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Vazha to purchase materials for greenhouse renovation.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 21, 2012
Sep 4, 2012
Currency Exchange Loss:
Jun 17, 2013