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Ivane is 33 years old. He is single and lives in a small village of Tskaltubo District with his mother and a student brother. The family earns a living through their agricultural business. They have a plot of land, where nuts and maize are grown. In addition, the family members run a small dairy farm with a calf and three milk cows whose milk is used in cheese products. Ivane sells the cheese and harvested products locally. In addition, he works as a builder to earn a monthly income.

Ivane has requested credit for the construction of greenhouses. His loan request was approved in the frame of new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-start-up credits with soft conditions to the 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 Ivane will purchase materials to construct greenhouses (iron pillars and polyethylene). He will grow greens and cucumbers in the greenhouses throughout the whole year. They will sell the harvested products on Kutaisi Market. The income of the family will significantly increase. They will be able to combat their poverty and in the future the family will have enough income to access regular credit products available on the 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
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,875 helped Ivane to start up a greenhouse business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 18, 2013
Feb 19, 2013
Currency Exchange Loss:
Mar 17, 2014