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Bakir is 54 years old. He lives in a small village in Bolnisi District. Bakir lives with his family; his wife and grown son. Bakir works as a security guard locally and gets a monthly income. Also, the family grows maize and potatoes on the family-owned land. All family members work hard, but the income is not enough for the three-member family.

Bakir requested credit to start a dairy farm. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisions provisioning business start-ups and re-startups with credit with soft conditions. These would be made available to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, Bakir will purchase three milk cows and feed for them. He will place them in the old cattle-shed located in his yard. He will produce cheese and sell the cheese on the local open market. The income for the family will significantly increase and the living conditions for the family will improve. Bakir will have enough income to access regular credit products available on the country’s capital market, in case of need.

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
  • 48
    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 $3,000 helped Bakir to purchase milk cows and feed for them.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Jan 18, 2013
Jan 22, 2013
Currency Exchange Loss:
Oct 17, 2014