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Gocha is 47 years old. He is married, and he lives with his wife and daughter. His daughter goes to the local kindergarten. Gocha is a shoemaker and makes shoes, which he sells from his house. His wife runs a small-scale trading business, selling clothing among their neighbors.

Gocha has requested credit to expand his business. His loan request was approved, in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages providing business start-ups and restart-ups with credit on soft conditions, for the country's rural poor people, who do not have access to regular credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Gocha will start up a small workshop, and he will buy soles and leather materials with which to make shoes. He will produce more shoes and sell his products for a good price. The new business initiative will increase the monthly income for the family. Their living conditions will improve, and in the future, they will have enough income to access regular credit products available on the country’s capital market, in the event 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
  • 52
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Gocha to start up a small workshop and buy materials that will enable him to make more shoes.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jan 26, 2013
Jan 28, 2013
Currency Exchange Loss:
Sep 17, 2014