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Iuri lives in Vani District, West Georgia, with his retired mother and 18-year-old son. The family is involved in an agricultural business. Iuri owns a vineyard and a plot of land where he grows nuts. The harvested products are sold at the local open market. Besides this, Iuri owns a building-materials workshop and gets monthly income.

Iuri has requested a loan to start his new business. His loan request was approved in the framework of a new joint initiative by Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up 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 their low income.

Iuri will use this loan to purchase wool-processing equipment. He will get orders and renew blankets and mattresses. The family's income will increase, and they will be able to improve their living conditions. Part of the profit will be used for financing the education of Iuri’s son.

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
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Iuri to purchase wool-processing equipment.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Dec 4, 2012
Dec 28, 2012
Currency Exchange Loss:
Nov 18, 2013