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Koba is 48 years old. He is single and lives alone in the Borjomi District. Koba earns his living through an agricultural business. In particular, he owns 3 milk cows and 6 calves. Besides this, Koba grows potatoes and carrots on his agricultural land. He is a very hard-working man, with a rich experience in his work. Koba is requesting credit to start-up a trade business. His loan request was approved in the framework of a new joint initiative from Kiva and Credo. The start-up loan program envisages provisioning business start-ups and re-startups with credit on soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, Koba will purchase a mini-bus to trade his harvested potatoes. This will save the costs of transportation. Besides this, he will purchase various greengrocery products from local farmers at wholesale prices and sell them in nearby towns with a price mark-up. This new business initiative will increase Koba's monthly income. His living conditions will improve and in the future, he will have enough income to access regular credit products available in his country’s capital market, if needed.

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
  • 46
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Koba to purchase a mini-bus for trading.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Dec 20, 2012
Dec 22, 2012
Currency Exchange Loss:
Jul 17, 2014