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Shota is 33 years old and is married. He lives with his wife in the small village of Telavi District. Shota works as an agricultural worker in the village and he has a wood-cutting machine that he uses to harvest wood. He brings timber from the forest using his own horse and sells it in the community. Shota's business barely provides enough food for the family. He has requested loans from local financial institutions several times to start up a family business, but his loan requests were rejected all the time because of his low income and the family’s poor living conditions. According to Credo estimates, the family belongs to the subsistence poor category.

Shota is requesting a from Credo to start up a business and purchase calves to raise and sell. His loan request was approved under the framework of a new joint initiative of Kiva and Credo that envisages the provision of business start-up and re-startup credits with soft conditions to the rural poor who do not have access to credit products as they are regarded as “high risk borrowers” due to low income. His new business, financed with his Kiva start-up loan, will give Shota's family the chance to significantly 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
  • 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 $675 helped Shota purchase calves to raise and sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Feb 28, 2013
Mar 4, 2013
Currency Exchange Loss:
Mar 17, 2014