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Irma is 52 years old. She lives in Akhmeta district with her husband Ruslan and her 25-year-old son George. Irma has requested several previous loans from local financial institutions for her family business start-up without any success. Her loan request has been rejected many times because of her low income and her family’s poor living conditions.

The only source of income for the Irma's family is a small monthly income earned by Ruslan and George who work as timber laborers in another district. Together, they earn 300 GEL per month, which is hardly enough to provide food for a three-member family. According to Credo estimates, the family belongs to the subsistence poor category.

Irma is requesting a from Credo to re-start-up her family business which she had to stop due to financial problems. She will use her loan to purchase land to cultivate wheat. Irma's goals are to plant and harvest a good quality production that she will sell at a good price to increase her family's income. Her loan request was approved within the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions for country rural poor who do not have access to credit products as they are regarded as “high risk borrowers” due to their low income. Irma's new business initiative, financed with her Kiva start-up loan, will significantly improve the living conditions of her 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
  • 49
    View loans »
    Georgia Loans Fundraising
  • $8,645,350
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Irma to purchase agricultural land and cultivate wheat.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 13, 2012
Sep 26, 2012
Currency Exchange Loss:
Jun 17, 2013