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Temuri is from the Martvili district of West Georgia. He is 33 years old and lives with his wife, parents and grandmother. Temuri has requested loans from local financial institutions several times for the family business start-up but without any success. His loan requests were rejected all the time because of low income and the family’s poor living conditions.

The only source of the income for the family is a monthly pension of Temuri’s father and grandmother as well as a small income earned by Temuri working as an auto mechanic locally. Besides that, the family owns a milk cow and produces dairy products with the received milk. The income is hardly enough for food for a five member family. According to Credo estimations, the family belongs to the subsistence poor category.

Temuri requested a loan from Credo to start up the family business. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages a provision of business start-up and re-start-up credits with soft conditions to country rural poor that do not have access to credit products since they are regarded as “high risk borrowers” because of low income. With the received credit, Temuri will set up his auto repair workshop in Kutaisi (the nearby town). He will rent the building and serve the local drivers. Temuri will get a service fee, and 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
  • 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 $975 helped Temuri to set up an auto repair workshop.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Nov 6, 2012
Nov 11, 2012
Currency Exchange Loss:
Mar 17, 2014