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Elvard is 47 years old. He lives in the small village of Agara with his family: his father (retired), his wife and 5-year-old daughter. The income source for the family is the retirement pension of Elvard’s father and a small monthly salary earned by Elvard’s wife working as a teacher locally.

Elvard is involved in agricultural business. In particular, he owns beehives with bee colonies and sells honey seasonally. Elvard owns agricultural land but he didn’t have financial resources for seasonal agricultural work and plowing. Now his loan request has been approved within the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with easy conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Elvard will plow the land and purchase potato seeds. He will sow it and work hard on the plot during the spring season. After properly done seasonal work, Elvard will get a good harvest in summer. He will sell harvested products to local retailers. The income of the family will increase.

Elvard plans to save some funds for sowing more potatoes next year. The living conditions of the family will improve and the family will have enough income to access regular credit products available on country’s capital market, in case 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Elvard to purchase potato seeds and cultivate his land.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Feb 5, 2013
Feb 8, 2013
Currency Exchange Loss:
Mar 17, 2014