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Valodia is 55 years old. He lives in Chechela village, Adigeni district, with his 47-year-old wife, Nana. Valodia 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 main source of income for the family is their agricultural activities. They own a plot of land, where they grow potatoes. The family also has four milking cows, a calf, and eight sheep. They milk the cows to make dairy products, and from the sheep they get wool and also cheese. Harvested potatoes, with the dairy products, are sold locally at the market.

Recently, Valodia requested a loan from Credo to restart 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 restart-up credits, with soft conditions, to rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Valodia wants to start trading in household goods and clothes. He and his wife had a business like this, a few years ago. Because they are already experienced in this field, Valodia decided to restart the business. The loan will be used for purchasing a stock of household goods and clothes at the wholesale price, which will be distributed at the local markets. 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
  • 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 $5,000 helped Valodia to buy a stock of household goods and clothes, with which to restart their business trading in those kinds of products.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Mar 30, 2013
Apr 5, 2013
Currency Exchange Loss:
Jun 17, 2015