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Slava is 45 years old. He lives in the Senaki District with his wife and daughter. Slava works as an artisan locally and gets a monthly income. But the income is not enough to cover the family's everyday expenses. So, Slava decided to start a new business. He has requested loans from his local financial institutions several times without any success. His loan requests were rejected every time because of low income and the lack of experience in the new job, which is usually demanded by local credit providers. His loan request was approved under a new joint initiative between Kiva and Credo. The start-up loan program provides startup and re-startup credits with soft conditions for country, 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 loan, Slava will build a greenhouse. He will purchase building materials and construct it. Slava will plant different kinds of vegetables seeds in his greenhouse and sell the harvested products locally. This will increase his income. The new business initiative, financed with the Kiva startup loan, will significantly improve the living conditions of the family. Slava awaits your support.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,900 helped Slava to build a greenhouse.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Nov 30, 2012
Dec 4, 2012
Currency Exchange Loss:
Feb 17, 2014