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Lamzira is 45 years old. She lives in Batumi district with her husband, 25-year-old son and 23-year-old daughter-in-law. Lamzira is trading with vegetables. She is buying from the resellers at the wholesale price and selling locally at the market with a small price mark-up. Her husband is an artisan and works on private orders to get small additional income for the family.

Lamzira requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan requests were rejected all the time because of low income and the family’s poor living conditions. Lamzira requested a loan from Credo to start-up family business. Her loan request was approved in the frames of a new joint initiative of Kiva and Credo. 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, Lamzira will purchase a stock of vegetables and renovate the small store house that she owns. She will buy a big stock from the resellers at low cost and sell at a good price through the whole season. This will bring her a good profit. With part of the profit, she will buy stock for the future and expand her trading business and another part she will use for her family's well-being.

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
  • 28
    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 $2,800 helped Lamzira to purchase a stock of vegetables and renovate the small store house.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 6, 2013
Apr 10, 2013
Currency Exchange Loss:
Jun 17, 2014