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Vartkes is 36 years old. He is divorced and lives in the small village of Damia with his retired mother and a brother. The family members run a small dairy farm with two calves and a milk cow, whose milk is used in cheese products. Vartkes sells the cheese products locally.

He requested a loan start up a family agricultural business. His loan request was approved in the frame of a 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, Vartkes will rent 2 ha of agricultural land and sow maize and sunflower there. The family members will do all of the relevant agricultural work to ensure a good quality harvest. The harvested products will be sold at the local open market and this will increase the family income. They will be able to combat their poverty, and in the future the family will have enough income to access regular credit products available from the country’s capital market as needed.

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
  • 47
    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 $1,225 helped Vartkes to rent agricultural land and sow sunflower and maize.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Feb 19, 2013
Feb 23, 2013
Currency Exchange Loss:
Feb 17, 2014