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Valerian is 55 years old, married, and has two children.. He lives in Kvareli District. Valerian requested a loan from local financial institutions several times for a family business start-up business, but without any success. His loan requests were rejected each time because of low income and the family’s poor living conditions.

The family earns their living through a small dairy farm of a calf and two milk cows. The family sells the dairy production locally. Valerian also owns a vineyard and has a small seasonal income. His son serves local farmers as a daily worker and has his own monthly income.

Valerian is requesting a loan from Credo to re-start the family business, which was stopped because of financial problems. His loan request was approved in the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credit with soft conditions for the country's rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the loan, Valerian will purchase calves to start an animal husbandry business. He will place cattle in a shed located in their yard, raise them, and sell them for a higher price. The new business initiative 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
  • 51
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,400 helped Valerian to purchase calves to start an animal husbandry business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 9, 2012
Nov 19, 2012
Currency Exchange Loss:
Dec 20, 2013