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Vakhtang is 41 years old and is from the Sachkhere District in West Georgia. He is married and lives with his wife, his two children and his parents. His father works as a guard at a local hospital. Vakhtang 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 the family’s poor living conditions.

Vakhtang is a driver. He transports local passengers by bus and gets a monthly income. It is hardly enough to pay for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Vakhtang requested a loan from Credo to start up a family business. His loan request was approved within the framework of the new joint initiative of Kiva and Credo. Start-up loan programs envisage the provision of business start-up and re-startup credits with soft conditions to the country rural poor that do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Vakhtang will purchase his own bus. After purchasing a bus he will continue working as a driver and increase his income. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of his 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
  • 51
    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 $3,000 helped Vakhtang to purchase a bus.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Feb 9, 2013
Feb 15, 2013
Currency Exchange Loss:
Mar 19, 2015