Check out some available loans that are similar to this one!
Mzevinar is 40 years old. She lives with her husband and 2 children in Batumi, West Georgia. Mzevinar is a cleaner and her daughter is a waitress in hotel; they both get monthly income. Mzevinar requested a loan 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 her low income and family’s poor living conditions. According to Credo's estimations, the family belongs to the subsistence poor category.

Because of her failure to get a traditional loan, Mzevinar requested a loan from Credo to start-up her family business. Her loan request was approved due to a new joint initiative of Kiva and Credo. This start-up loan program provides business start-up and restart-up credits with soft conditions to the country's rural poor. These borrowers do not have access to credit products, for they are regarded as “high risk borrowers” because of their low income. With her loan, Mzevinar will renovate a flat, which she has bought to rent out. Because of tourism development in Batumi, Mzevinar believes that renovating this flat will help her earn income. This new business initiative, financed with a start-up loan from Kiva, 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
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Mzevinar to renovate a flat to rent.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Nov 28, 2012
Nov 29, 2012
Currency Exchange Loss:
Jan 18, 2014