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Gia is 52 years old. He lives in the Gardabani District with his wife and son. Gia applied for a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected every time, because of his low income and the family’s poor living conditions.
Gia had a car and worked as a taxi driver. After an accident, his car will not run, and nowadays he doesn’t have any source of income. Gia’s son works as an artisan and receives a monthly income. It is hardly enough to buy food for the family. According to Credo estimates, the family belongs to the “subsistence poor” category.
Gia has requested a loan from Credo to re-start the family business. His loan request was approved in the framework of new joint initiative of Kiva and Credo. The start-up loan program envisages providing business start-up and re-start credits on soft conditions to the rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” on the basis of low income. With this credit, Gia will purchase a car. After purchasing the car Gia will be able to continue working. This will increase the income of the family. The new business initiative, financed with the Kiva Start-Up Loan, will significantly improve the living conditions of the 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
  • 46
    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 $4,000 helped Gia to purchase a car, because his taxi was in an accident.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 18, 2013
Jan 22, 2013
Currency Exchange Loss:
Jun 17, 2013