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Inga is 41 years old and lives with her mother and four daughters in Tbilisi, the capital of Georgia. She wants to start up a new business and has requested loans from local financial institutions several times, but without any success. Her requests were rejected because of her low income and the family’s poor living conditions. Today the only source of income the family has is Inga's salary, which she earns by working as waitress in a restaurant. She makes 800 Laris per month. This is hardly enough to buy food for the family and explains why, by Credo's estimations, the family belongs in the subsistence poor category.

Inga has requested a loan from a new joint initiative of Kiva and Credo which helps people who are trying to start up a new business. The two organizations provide such loans under convenient repayment terms to help the rural poor. Inga plans to use the loan to go to Turkey to buy clothing from wholesalers and then resell it at a higher price to people who live in her community. This will increase the income of the family and allow it to improve its living standards.

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
  • 43
    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 $900 helped Inga to open a new business selling clothing.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 24, 2013
Jan 25, 2013
Currency Exchange Loss:
Jan 18, 2014