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Ramaz is 34-years-old. He lives in Dagva village, Kobuleti District with his retired parents. Ramaz requested a loan from local financial institutions several times for a family business start-up, without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

Ramaz is an artisan. He works at the local furniture workshop on a small monthly salary. His father is an artisan too, who works on construction for private orders. The family's additional income is from Ramaz’s parent’s monthly pensions.

Ramaz requested a loan from Credo to start-up a family business. His loan request was approved in the frames of the 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, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Ramaz will purchase all the needed materials to open his own furniture workshop. As he is already experienced in this business and is well known among the villagers, Ramaz will have a good numbers of clients. He will not depend on a salary anymore and work hard to earn good income for the family. The increased income will help him to provide better living conditions for his aged parents.

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
  • 30
    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 $1,600 helped Ramaz to purchase all the needed materials to open his own furniture workshop.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Apr 6, 2013
Apr 9, 2013
Currency Exchange Loss:
Apr 16, 2014