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Levan lives in the Adigeni District. He is 22 years old and single. He lives with his mother, who works as a saleslady at a local store, and gets a small monthly salary. The income source for the family is agricultural land, where they grow potatoes that they sell seasonally. In addition, Levan works as an auto mechanic and earns a monthly income.

Levan decided to start a business, as their existing income isn’t enough for the family, and their living conditions are poor. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program has provisions of business start-up and restartup credits with soft conditions to the country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” due to low income.

With the loan, Levan will purchase a car to use for business purposes to transport agricultural products. Another part of the credit will be used to purchase a stock of walnuts. He will purchase them wholesale, and resell for a profit in nearby villages. The income of the family will increase, and the living conditions of the family will improve. In addition, the family will have enough income to access regular credit products, available in the country’s capital market, in the event 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Levan to purchase a car to transport agricultural products.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Feb 8, 2013
Feb 13, 2013
Currency Exchange Loss:
Dec 20, 2013