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David is 43 years old. He lives in Badiauri village, Sagarejo district, with his 43-year-old wife, retired parents, and 21-year-old son. Several times, David requested a loan from local financial institutions for a family business start-up, but without any success. His loan request was rejected each time because of low income and his family’s poor living conditions.

David's family owns a vineyard. Harvested grapes are sold at the local markets. They also have piglets which will be sold as meat after they are grown. David has a mini-bus. He is trading fruits and vegetables, buying at the wholesale price and selling locally with the price marked up. David makes a small profit and brings additional income to the family.

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

With the received credit, David will renovate the commercial space which was rented out. He will also purchase a stock of groceries and open a grocery shop. David decided to stop the rent, make some cosmetic repairs, and open a grocery shop, himself. As locals are already used to this shop, after the family opens it again with better stock and a better environment, David hopes it will bring good profit. Part of the profit will be used to expand the stock in the shop and another part will be used to improve the family's 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
  • 29
    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 $3,000 helped David to renovate space and purchase grocery stock for a grocery shop.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Mar 30, 2013
Apr 8, 2013
Currency Exchange Loss:
May 17, 2014