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Ekaterine is 38 years old. She is married and lives with her husband and 2 children in the capital city of Georgia. Ekaterine requested loans from local financial institutions several times in order to start a family business, but without any success. Her loan requests were always rejected, because of her low income and the family’s poor living conditions.

Ekaterine works as a housekeeper and earns a monthly income of 300 Laris per month. This is the only source of income for the family and it is hardly enough to pay for their food. According to Credo estimations, the family belongs to the "subsistence poor" category.

Ekaterine has requested a loan from Credo to start a family business. Her request was approved through a new joint initiative of Kiva and Credo. The start-up loan program provides loans with soft conditions to the rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” on account of their low incomes. With the loan, Ekaterine will start a clothing business. She plans to purchase clothing in Turkey at wholesale prices and then resell the clothes to her neighbors at higher prices. This will increase the family's income. The new business initiative, financed with a Kiva start-up loan, could 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
  • 46
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $800 helped Ekaterine to start a retail clothing business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Feb 25, 2013
Mar 5, 2013
Currency Exchange Loss:
Jan 18, 2014