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Inga is 46 years old and lives with her daughter and son-in-law in the Kutaisi district of West Georgia. She has requested a loan from local financial institutions several times in order to start up a family business, but without any success. Her loan requests were rejected every time because of the family's low income and poor living conditions.

The only source of income for the family is Inga's work as a local cook. She makes a total of 250 laris per month, which is hardly enough to provide food for the family. According to Credo's assessment, the family belongs to the "subsistence poor" category.

Inga has requested a loan from Credo for a family business start-up. Her loan request was approved under the framework of a new joint initiative between Kiva and Credo. The start-up loan program provides credit for business start-ups, offering favorable loan conditions to poor rural people who do not have access to credit because they are regarded as “high risk borrowers”. Using the loan, Inga will set up a new business trading in clothing and bed-clothes. She plans to purchase clothing from wholesalers and resell it locally. This new business initiative will significantly improve the income and 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
  • 30
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Inga to begin a new business in clothing sales.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Nov 19, 2012
Nov 29, 2012
Currency Exchange Loss:
Jan 18, 2014