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Ilia is 45 years old. He is single and lives alone in the village of Gurjaani. The source of income for Ilia is his vineyard. He does all relevant agricultural work to ensure a good quality harvest. The harvested grapes are sold locally. So, he has only seasonal income and he has requested loans from local financial institutions several times to start a trading business, but without any success. His loan requests were always rejected because of lack of experience in the new business, which is usually demanded by local credit providers. His loan request was approved within the framework of a new joint initiative between Kiva and Credo. This start-up loan program provides credit to the rural poor who do not have access to it, being regarded as “high risk borrowers” because of their low income. Ilia owns a building and plans to set up a grocery store there. With the loan, he will purchase stock for the store. Selling grocery products will positively impact him. This new business initiative will double Ilia’s income and enable him to improve his 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Ilia to purchase stock for his grocery store.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Dec 29, 2012
Jan 9, 2013
Currency Exchange Loss:
Sep 17, 2013