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Lali is 25 years old. She lives in a small village in the Martvili District with her mother and grandmother who both are provided with retirement pensions. Lali requested loans from local financial institutions several times for her family-business start-up, but without any success. Her loan request was rejected all the time, because of her low income and the family’s poor living conditions.

The source of the income for the family is an agricultural business. Lali has 2 milk cows, whose milk is used to produce cheese products which are sold in their village and nearby villages. Lali also has 5 bee-hives with bee colonies. She harvests the honey and sells it at the local open market. In addition, her mother trades with cereals. Their income is hardly enough for food for a three-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Lali has requested loan from Credo to start up a new family business. Her loan request was approved in the frame of new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country-residing rural poor, who do not have access to traditional credit products,--they are typically regarded as “high risk borrowers” because of low income. Lali requested credit for the start-up of a grocery store with a sharer. With the requested credit she will purchase grocery products for resale. According to her estimations, her store will work well, as there are no other similar stores. She will attract clients with quality service and a wide assortment of products.

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
  • 46
    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 $2,425 helped Lali to start a glocery store.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Oct 31, 2012
Nov 7, 2012
Currency Exchange Loss:
Jun 17, 2014