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Koba is 46 years old. He lives in Khoni District with his 68-year-old mother (pensioner) and 29-year-old son. His son has chronic health problems and receives a pension from the local government. Koba requested loans from local financial institutions several times for a family business start-up, but met no success. His loan request was rejected every time because of low income and poor family living conditions.

The only current source of income for the family is from agricultural business. In particular, they have vineyard of 200 vine trees and produce vines to sell locally at good prices. Koba has 0.5 hectares of land where he sows different kinds of vegetables. In addition, the family has a calf. This is hardly enough food for a three-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Koba requested a loan from Credo to start-up another family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products and are regarded as “high risk borrowers” because of low income. With the received credit, Koba will purchase a cow. After purchasing the cow, he will be able to produce dairy and milk products. This will significantly increase the family income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the 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
  • 29
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $650 helped Koba to purchase a cow.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Oct 30, 2012
Nov 7, 2012
Currency Exchange Loss:
Jun 17, 2014