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Manana is 25 years old. She lives in Mtskheta District with her husband, parents-in-law and two children who are going to school. Manana requested a loan for the family business from local financial institutions several times but without any success. Her loan request was rejected each time because of low income and the family’s poor living conditions. The family has two milk cows. Manana and her mother-in-law are milking the cows every day to make cheese which is sold locally at the markets. They also have a car which Manana’s husband and father-in-law are using as a taxi to drive local people. According to Credo's estimations the family belongs to the subsistence poor category.

Manana requested a loan from Credo to strengthen the family business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up credits with soft conditions to the country's rural poor who do not have access to credit products being regarded as “high risk borrowers” because of low income. With the credit received, Manana will purchase a car and it will be used as a taxi. Her husband and father-in-law both work in separate cars as drivers to increase the family income. The profit will be used to buy more cows and produce more milk to make cheese. The new business initiative, financed with this Kiva start-up loan will significantly improve the living conditions of the family.

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
  • 44
    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 $1,525 helped Manana to buy a car for her husband to work as a taxi driver.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Feb 26, 2013
Mar 4, 2013
Currency Exchange Loss:
Dec 20, 2013