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Genadi is 46 years old. He lives in the Telavi district of Georgia with his parents and his wife, Khatuna. Genadi has unsuccessfully requested loans from local financial institutions several times to fund the start-up of his family business. His loan requests were rejected because of his family's low income and poor living conditions.

The current sources of the income for Genadi's family are the monthly pension of his parents and the small monthly income of Khatuna, who works as an assistant at a boarding school. The income totals 430 laris per month and is hardly enough to provide food for a four-member family. According to Credo estimations, the family belongs to the "subsistence poor" category.

Genadi requested a loan from Credo to restart his family business, which was stopped because of financial problems. His loan request was approved by a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and restart-up credits with soft conditions to rural poor who do not have access to credit products, since they are often regarded as “high risk borrowers” because of low income.

With the received credit, Genadi will purchase a truck to transport wood from the forest. The wood will be sold in his village and in nearby villages. The new business initiative, financed with the Kiva loan, will significantly improve the living conditions of 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
  • 46
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Genadi to purchase a truck to transport wood from the forest.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 28, 2012
Oct 14, 2012
Currency Exchange Loss:
Nov 17, 2014