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Lasha is 27 years old. He lives in Sachkhere district with his retired parents and brother. Several times, Lasha requested a loan from local financial institutions for a family business start-up, but without any success. Each time, his loan request was rejected because of low income and his family’s poor living conditions.

Lasha is an artisan working on private orders and his brother is a driver. They both earn small, monthly salaries. Additional income for the family is from his parents’ pension.

Lasha requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions for 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, Lasha will purchase a stock of groceries. He has built a mall building and he renovated it himself. Now he wants to purchase all the needed equipment and groceries, so he can start his business.

Lasha is a very hard-working man and he will try his best to make the shop successfully work. Profit will be used for reinvesting, to add more groceries. The new business initiative, financed with the 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Lasha to purchase a stock of groceries and equipment for starting a grocery shop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Mar 15, 2013
Mar 22, 2013
Currency Exchange Loss:
Apr 17, 2015