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Merab is 47 years old. He lives in the capital city of Tbilisi, with his wife and 18-year-old daughter. Several times, he has asked for loans from local financial institutions to start up a new business, without success. His loan requests were rejected each time because of the law income and lack of experience in his job, which is usually demanded by local credit providers.

The only source of the income for the family is the newly started business being run by Merab at the local open market. He has a store where different kinds of fruits and vegetables are sold.

Merab has requested a loan from Credo to develop his business trading in fruit and vegetables at the local open market. His loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit, with soft conditions to the rural poor who do not have access to credit products, since they are regarded as “high-risk borrowers” because of their low income.

With the received credit, Merab will purchase fruit and vegetables at wholesale prices and sell them in his open market store. Merab plans to increase the turnover in his trade business gradually.

The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Merab will work hard, and he will be able to improve the living conditions for his family. With this loan, family will generate enough income to access regular available credit products in the country’s capital market, in the event they need it.

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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Merab to purchase fruits and vegetables for resale.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 15, 2012
Nov 20, 2012
Currency Exchange Loss:
Dec 20, 2013