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Gulo is 64 years old. She lives in the Sighnaghi District with her husband and a grandson who goes to the local school. She requested loans from local financial institutions several times in order to start an agricultural business, but did not have success. Her loan requests were rejected every time due to low income and the family’s poor living conditions. The only source of income for the family is the small monthly retirement pension of Gulo and her husband. Seasonally, the family sells the harvested maize that was grown on the family-owned land. It is hardly enough for the family to cover everyday expanses. According to Credo estimations, the family belongs in the vulnerable poor category.

Gulo requested a loan from Credo to start a dairy farm. Her loan request was approved as part of a new joint initiative between Kiva and Credo. The start-up program loans money for business start-ups and "re-startups." It provides access to credit with less rigid conditions for the country's rural poor, who usually do not have access to credit products because they are regarded as “high risk borrowers” because of their low income.

With the loan, Gulo will purchase a milk cow. She will place it in the old, empty farm building located in their yard. She will work hard on the farm. She will produce cheese and sell it in the village. The new business initiative, financed with the Kiva start-up loan, will significantly increase the family's income. Gulo and her husband will be able to spend their senility in a more comfortable environment and rear their grandson to be well-educated as well. Gulo awaits your support.

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
  • 46
    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 $625 helped Gulo to purchase a milk cow for starting a dairy business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Feb 27, 2013
Mar 2, 2013
Currency Exchange Loss:
Sep 17, 2013