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Vazha, 62, lives in Lagodekhi District with his wife and grown son. In fact, there is no source of income in the family at the moment as all of the family members are unemployed. Vazha used to have a car and served the local people as a taxi driver but his business has recently stopped, and because of financial problems, he sold the car.

He decided to re-start his business because his family's living conditions are poor. Vazha’s loan request was approved as part of a new joint initiative between Kiva and Credo. This start-up loan program aims to provide business start-up and re-startup loans with more favorable conditions to the rural poor, who do not have access to standard credit, being regarded as 'high-risk borrowers' because of their low income. With this loan, Vazha will purchase a car and offer a service to local people as a taxi driver. The income of the family will increase and they will be able to improve their living conditions. The family will also have enough income to use the usual sources of credit in the country should they need to do so.

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
  • 45
    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 $2,000 helped Vazha to purchase a car to use as a taxi.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Jan 12, 2013
Jan 17, 2013
Currency Exchange Loss:
Oct 17, 2014