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Ekaterine is 45 years old. She lives in the Senaki District with her husband and son. Ekaterine requested a loan from local financial institutions several times for her family business start-up without success. Her loan requests were rejected because of low income and the family’s poor living conditions.

The source of the family's income is agricultural activities. In particular they have three milk cows and four calves, whose milk is used in cheese production. They also have a plot of agricultural land, where maize and 200 nut trees are grown. It hardly provides enough food for the family. According to Credo estimations the family belongs in the subsistence poor category.

Ekaterine requested a loan from Credo to start a family business. Her loan request was approved in the frame of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit Ekaterine will trade used clothing. She plans to buy used clothing from the wholesalers and then resell at a higher price. 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $200 helped Ekaterine to trade used clothing.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Jan 26, 2013
Jan 29, 2013
Currency Exchange Loss:
Sep 17, 2013