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Nino is a 58-year-old widow who lives alone in the Sighnaghi district. Several times, Nino has requested loans from local financial institutions for her trading business start-up, but without any success. Her loan requests were rejected each time because of her low income and poor living conditions. The only source of income for her is the small monthly income she earns by working as a cleaner locally. Nino has requested a loan from Credo to start a clothing sales business. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits on reasonable terms for the country's rural poor who do not have access to credit products because they are regarded as “high risk borrowers” due to their low income. Nino will purchase clothes in the capital city at wholesale prices and resell them in her village for a profit. It will be hard work for Nino but, according to estimates, her business will be profitable and will increase her income. The increased profit will be reinvested in her clothing trading business to increase her stock and sales volume. Nino will be able to increase her spending to satisfy her daily needs and improve her 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
  • 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 $600 helped Nino to purchase clothing for her start-up business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Dec 19, 2012
Dec 25, 2012
Currency Exchange Loss:
Sep 17, 2013