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Suren is 30 years old. He lives in Akhalkalaki, with his wife and two children (two and eight years old). Suren’s father has a grocery store in the district and Suren helps him run the business. He has an income from his father’s business. So, Suren decided to start-up his own business. He has requested a loan from local financial institutions several times to start the business, but he hasn't had any success. His loan request was rejected all the time because of his low income and his lack of experience, which local credit providers usually demand. Suren plans to set up meat store locally.

His loan request was approved under the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor people who do not have access to credit products. These rural poor are regarded as “high risk borrowers” because of their low income.

With the received credit, Suren will purchase refrigerators, a mincing-machine and a truck for meat transportation. He will also use the loan to purchase a stock of meat. He has already renovated the store in the town centre. The place is profitable as it is populous, and it does not have a meat store nearby. This will increase sales volume. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of Suren's 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
  • 29
    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 $5,000 helped Suren to set up a meat store.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Nov 28, 2012
Dec 4, 2012
Currency Exchange Loss:
Jan 18, 2014