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Anastasia is a 62-year-old widow. She lives in Telavi, East Georgia, with her two daughters, Maia and Tinatin. Anastasia requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected all the time because of her low income and the family’s poor living conditions.

The only source of the income for the family is the small monthly salary of Anastasia. She is professional accountant and gets private orders to do accountancy for different companies. According to Credo estimations, the family belongs to the subsistence poor category.

Anastasia requested a loan from Credo to start up a 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 re-startup 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 received credit, Anastasia will purchase a sewing machine and materials for sewing bedclothes. She has a basement in her house, which will be used as a workshop, so she will not have to pay money for rent. The bedclothes she makes will be sold locally at the markets and among her villagers. As Anastasia won’t have too many expenses except buying materials, she hopes the business will be profitable. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family, and Anastasia will be able to provide a better life for her daughters.

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
  • 51
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Anastasia to purchase a sewing machine and materials for sewing bedclothes.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Mar 1, 2013
Mar 13, 2013
Currency Exchange Loss:
Jun 17, 2015