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Levan is 27 years old. He lives in the capital city of Georgia, Tbilisi with his 27-year-old wife Rusudan, parents and sister. Levan requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of his low income and the family’s poor living conditions.

The only source of income for the family is Levan’s monthly salary. He is working in a computer accessories shop. Levan repairs damaged computers which are sold in the shop.

Levan requested loan from Credo to start-up a family business. His loan request was approved in the framework of new a joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

Levan plans to open a computer shop. The family owns a commercial space, where they plan to sell and repair computers. With the received credit Levan will purchase show model products to put on the counter in their shop. As he is very experienced in this field and has many contacts in the warehouses, in case of orders he will purchase requested products at a low cost and sell them with the price markup. The expenses of the business will be reduced as they will not have to hire anybody or pay rent and also will be working on repair services. This business will increase the family income as and they will be able to have better 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
  • 45
    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 $1,400 helped Levan to purchase show model computer products to put on the counter in their shop.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Mar 21, 2013
Mar 25, 2013
Currency Exchange Loss:
May 17, 2014