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Manana is 46 years old. She lives in Kutaisi District with her husband, 2 sons, daughter-in-law and an infant child. Manana requested a loan from local financial institutions several times for her family business start-up, but without any success. Her loan request was rejected each the time because of her low income and the family’s poor living conditions.

Manana works as a sales lady in a clothing store. She makes 250 GEL per month. It is hardly enough for food for her family.

Manana requested a loan from Credo to start-up a family business. Her loan request was approved in the frames of new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With this loan, Manana will purchase clothes in Turkey for wholesale prices and resell them in her store for a profit. It will be hard work for Manana, but according to estimates, her business will be profitable and will increase the income of the family. The increased profit will be reinvested in her business to increase her stock and sales volume. The family members will be able to earn some savings and buy their own house. Manana awaits your support.

This new business initiative financed with the Kiva start-up loan will significantly improve the living conditions of the 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 $2,100 helped Manana to purchase clothing to resell.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Dec 20, 2012
Dec 28, 2012
Currency Exchange Loss:
Nov 18, 2013