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Susanna is 26 years old. She lives in Akhalkalaki District with her grandmother and two children. Her husband works abroad and sends his small income to his family. Susanna requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time because of low income and the family’s poor living conditions.

The family earns their living through an agricultural business. In particular, Susanna grows potatoes, barley and wheat on the family-owned land. The family sells the harvested products locally. Besides that, Susanna’s grandmother is a pensioner. The income is hardly enough, only for food and everyday expenses. According to Credo estimations the family belongs to the subsistence poor category.

Susanna requested a loan from Credo to start up a family business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The startup loan program envisages provision of business startup and re-startup credits with soft conditions to the rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the loan, Susanna will purchase calves to start an animal husbandry business. She will place the cattle in a shed located in their yard, raise them, slaughter and sell the meat for a higher price. The increased profit will be reinvested in the animal husbandry business. 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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,625 helped Susanna to purchase calves for starting an animal husbandry business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 16, 2012
Nov 20, 2012
Currency Exchange Loss:
Jun 17, 2014