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Nona is 23 years old. She lives in a suburb of the capital city with her husband, parents-in-law and two infant children. Nona works as a baker at a bakery and her mother-in-law is a cook. Both family members get a monthly salary. Nona has requested a loan from local financial institutions several times for a family business start-up, but she hasn't had any success. She wants to start a bakery and a confectionery, but her loan request has always been rejected in the past because of her lack of experience, which is usually required by local credit providers. Nona has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With her credit, Nona will start up her own confectionery shop. She will renovate the rented store, purchase stock and equipment for baking and bake different kinds of cakes and cookies. Nona hopes her project will be profitable as she already has the baking experience and will offer quality products to her customers. This will increase her sales volume. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of her 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 $1,300 helped Nona to start up a confectionery.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 16, 2013
Jan 18, 2013
Currency Exchange Loss:
May 17, 2013