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Nino is from Batumi. She is 40 years old, married, and lives with her husband and 20-year-old daughter. Her husband works as a guard and her daughter is a shop consultant. Both of her family members earn a monthly salary.

She has requested loans from local financial institutions several times for starting a business, but without any success. Her loan requests were rejected every time because of her low income and the lack of experience in the new business, which is usually demanded by local credit providers.

Nino used to have a vet shop, which was stopped because of financial problems. She requested a loan from Credo to start a small business. Her loan request was approved via the new joint initiative between Kiva and Credo. The start-up loan program includes business start-up and re-startup loans with conditions appropriate for the country's rural poor, who do not have access to credit products, being regarded as “high-risk borrowers” because of their low income.

Nino already has obtained a building for the grocery store in the basement of 5-story building. With the loan, she will purchase inventory, as well as refrigerators for the store and meet her first customers. She will sell a variety of grocery products and is sure that the store will function profitably, as there are no similar stores nearby. The new business initiative, financed with a Kiva start-up loan, will significantly increase the income of the family. The family members will be able to increase their spending to satisfy their daily needs, in order to improve their living conditions.

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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Nino to purchase inventory and a refrigerator for her grocery store.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 13, 2012
Dec 17, 2012
Currency Exchange Loss:
Jan 17, 2015