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Irakli, age 31, is a farmer. He lives in a village in the Baghdati district with his parents, wife and an infant daughter. Irakli keeps busy running the family's small-scale agricultural business. He owns a vineyard and sells the harvested grapes seasonally. Also, he has five bee hives with bee colonies and the honey produced is sold locally. Besides this, Irakli’s father works as a builder and earns a small monthly income.

Irakli has requested credit for the purpose of building a greenhouse. The new business will be an additional source of income for the family, which will allow them to combat the poverty in which they live. Irakli’s loan request was approved within the framework of a new joint initiative between Kiva and Credo. This start-up loan program offers business start-up capital and re-startup credit with generous lending conditions to country rural poor, who often do not have access to credit as they are regarded as “high risk borrowers” because of their low income.

With the received credit, Irakli will purchase materials for the greenhouse construction (iron pillars and polyethylene covering) and will then construct the greenhouse, where mushrooms will be grown throughout the year. Irakli will work in the greenhouse himself. He will sell the harvested products at the local open market. The income of the family will significantly increase and they will be able to improve their living conditions.

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
  • 28
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Irakli to start up a greenhouse business.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Feb 25, 2013
Mar 2, 2013
Currency Exchange Loss:
Feb 17, 2014