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Vakhtang is 31 years old. He lives in the Gurjaani District with his wife, two daughters and mother.

On several occasions Vakhtang requested loans from local financial institutions for a family business start-up, but without any success. His loan requests were rejected each time because of his low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have a milking cow, whose milk is used in cheese products. They sell cheese locally. In addition, Vakhtang grows fruits and vegetables, but he barely grows enough to feed his family.

Vakhtang requested a loan from Credo to start a business. His loan request was approved as a new joint initiative between Kiva and Credo. With the loan proceeds, Vakhtang would like to purchase calves; after purchasing the calves, he will raise them and fatten them up for future sales. He would also like to use a portion of the loan proceeds to grow maize, which he will sell after the harvest. The Kiva/Credo start-up loan program is designed to provide funding and credit to the country's rural poor, who do not usually have access to credit products because they are regarded as high-risk borrowers due to their low income. Vakhtang is confident that these new business ventures, financed by Kiva/Credo, will enable him to significantly improve his 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,323,825
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Vakhtang to purchase calves and to harvest maize.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Mar 29, 2013
Apr 17, 2013
Currency Exchange Loss:
Feb 17, 2014