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Arif is 47 years old. He lives in Bolnisi District with his 33-year-old wife, father in-law, and brother in-law. Arif requested a loan from local financial institutions several times for his family's business start-up, but without any success. His loan request was rejected every time because of low income and the family’s poor living conditions.

The main income for the family is from agricultural activities. They own a plot of land where fruits and vegetables are grown (potatoes, maize, haricot, and different kinds of fruit). Harvested products are sold at the market in Bolnisi, and the family gets a small monthly income which is not enough to satisfy their daily needs.

Arif requested a loan from Credo to start up a family business. His loan request was approved within the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the 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 low income. With the received credit, Arif will purchase a car. He wants to start trading fruits and vegetables in nearby villages. This will significantly increase their profits. Arif will use part of the profit for reinvesting in the same business and another part to renovate their house, 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,200 helped Arif to purchase a car for trading fruits and vegetables.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Mar 27, 2013
Mar 30, 2013
Currency Exchange Loss:
Sep 17, 2014