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Lia is 54 years old. She lives in the Telavi District in East Georgia with her husband, Malkhaz. Lia has requested a loan several times from local financial institutions for a family business start-up but without any success. Her loan request has been rejected each time because of her low income and the family’s poor living conditions.

The only source of income for the family is a small monthly income earned by Malkhaz working as a watchman at the local factory. In addition, Lia works for local farmers as a daily worker to earn a small additional income. They earn in total 250 Laris per month which is hardly enough for food and everyday expenses. According to Credo estimations, the family belongs to the subsistence poor category.

Lia has requested a loan from Credo to start up a family business. Her loan request was approved within the framewprk of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-start-up credit with soft conditions for the country's rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Lia will purchase calves in West Georgia where the prices are lower than in her region. She will raise and sell them at a good price. This will increase her family's income and she will be able to expand her animal sales business. This new business initiative, financed with the Kiva start-up loan, will significantly improve her family's 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,925 helped Lia to purchase calves to raise and sell.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Sep 19, 2012
Oct 15, 2012
Currency Exchange Loss:
Jan 18, 2014