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Marekh, 39 years old, is from the small village of Tsnori. She is divorced and lives with her mother and her two children, 15 and 12 years old, both attending the local school. The family's only sources of income are the small monthly salary earned by Marekh working in a store as a saleslady and Marekh’s mother's retirement pension. This income is hardly enough to cover the family's food and everyday expenses. On several occasions, Marekh requested a loan from local financial institutions for starting a trading business, but she had no success. Her loan requests were always rejected because of her low income and lack of job experience, criteria usually demanded by the local credit providers.

Marekh's loan request was approved in the framework of a new joint initiative through Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

Marekh will purchase stocks of clothes in Tbilisi (the capital city) for wholesale prices and resell them in her village for a profit. It will be hard work for Marekh, but according to her estimations, the business will be profitable and increase the family's income. The increased profit will be reinvested in the business to increase her stock and sales volume. Family members will be able to increase their spending to satisfy their daily needs in order to improve their living conditions.

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
  • 28
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Marekh to purchase clothing for resale.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jan 31, 2013
Feb 5, 2013
Currency Exchange Loss:
Mar 17, 2014