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Marine is from the village of Kianeti. She is married and lives with her family: her husband and 20-year-old son. The family owns a donkey and a milk cow. Marine milks it twice a day and produces cheese, which is sold at the local open market. In addition, her husband produces horseshoes and locally sells them.

Several times, Marine requested a loan from local financial institutions for her agricultural business start-up, but without any success. Her loan request was rejected each time because of her low income and family’s poor living conditions.

Her current loan request was approved because of the new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to loans since they are regarded as “high risk borrowers” because of low income.

With the received credit, Marine will purchase materials for horseshoes. Her husband will produce them and sell at a good price. Another part of the credit will be used for setting up a grain mill. Her mill will serve the local farmers and crush the grains. As a result of the Kiva loan, the family will get additional income and will use it for improving the 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Marine to purchase materials for horseshoes and to set up a grain mill.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Dec 28, 2012
Jan 8, 2013
Currency Exchange Loss:
Jul 17, 2013