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Bela, 45 years old, is married and lives in Tskaltubo district with her husband and a daughter. Bela’s husband works at the local water supply company, where he earns a monthly salary. Bela's main income is her newly-started grocery store. It has been a profitable project, but it also needs more support to further develop. On several occasions, Bela has asked for loans from local financial institutions to develop her business, but has had no success. The loan requests were rejected because of her low income.

Bela’s loan request was approved as part of the new joint initiative through Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit with soft conditions to the rural poor who do not have access to credit products, since they are regarded as “high-risk borrowers” because of their low income. With the received credit, Bela will cover the costs of purchasing needed basic grocery stock that customers often request. She will purchase stocks of detergent powders and sausages as these products are most in demand. Bela plans to increase her business turnover gradually. The new business initiative, financed with the Kiva start-up loan, will significantly increase the family's income. Bela will work hard, and she will be able to improve her family's living conditions. With this loan, her family will generate enough income to access regular available credit products in the country’s capital market, should they need them.

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
  • $8,637,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Bela to purchase stocks of detergent powder and sausages for her grocery.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 24, 2013
Jan 31, 2013
Currency Exchange Loss:
Oct 17, 2013