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Soso is 31 years old and is from the small village of Mtskheta district. He is married and lives with his wife and two children (9 and 11 years old). Soso 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 low income and the family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have a milk cow, whose milk is used in cheese production. Soso’s wife milks the cow and produces cheese for selling. They also have three pigs. It is hardly enough food for the family. According to Credo estimations, the family belongs to the subsistence-poor category.

Soso requested a loan from Credo to start up 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 the provision of a business start-up and re-startup credits with soft conditions to the country's rural poor. These people do not have access to credit products, being regarded as “high risk borrowers” because of low income. Soso plans to start his own business.
The place in which he lives is very conducive to opening a fast food stall, where he will sell Doner (similar to kabobs). With the received credit, Soso will purchase the stock of raw materials to make doner and a refrigerator for juices. 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
  • 37
    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 Soso to open a fast food stall and sell Doner.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 21, 2013
Mar 27, 2013
Currency Exchange Loss:
Apr 16, 2014