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Valerian is 54 years old. He lives in Balichi village, Bolnisi district with his wife Leila. Valerian 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 his family’s poor living conditions.

His family has 20 pigs and they sell piglets. In addition, they own a plot of land. Valerian cultivates the land and plants maize. Harvested maize and piglets are sold locally at the markets and the family gets a small monthly income.

Valerian requested a loan from Credo to start a family business. His loan request was approved in the frame 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 country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, Valerian will purchase a car. He wants to start selling pig feed. He will purchase it at the wholesale price and resell it with a price mark up. Breading pigs is very developed in his district so Valerian hopes the feed for pigs will be highly requested by his villagers. This will increase his income and Valerian will be able to provide better living conditions for him and his wife.

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
  • 31
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Valerian to purchase a car to start selling pig feed.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Mar 22, 2013
Mar 25, 2013
Currency Exchange Loss:
May 17, 2015