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George is 62 years old. He lives in Khoni District, West Georgia, with his wife. His wife receives a retirement pension. George is leading his family's small-scale agricultural business. He runs a family-owned dairy farm, with two calves and a milk cow. George produces cheese and sells it in the village. In addition, he grows nuts and maize on the family-owned land, and he sells these crops seasonally. The income is not enough to provide George and his wife with normal living conditions. According to Credo estimations, the family belongs to the subsistence poor category.

George has requested loans from local financial institutions several times, for a family business start-up, but without any success. His loan request was rejected every time, because of his low income and his family’s poor living conditions.

George requested a loan from Credo to restart his family business, which was stopped a couple of years ago because of financial problems. His loan request was approved, as part of a new joint initiative of Kiva and Credo. The start-up loan program provides credit with fewer conditions, to the country's rural poor, for business start-ups and restart-ups. This population is often considered "high risk borrowers" because of low incomes, and they often do not have access to credit.

With the credit, George will purchase chickens to restart a poultry farm. He will place the chickens in a shed located in their yard. He will raise them and sell them for a higher price. The new business initiative, financed with the Kiva 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
  • 46
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped George to restart-up a poultry farm.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jan 30, 2013
Feb 6, 2013
Currency Exchange Loss:
Sep 17, 2014