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Nadia is 52 years old. She lives in the city of Batumi with her 55-year-old husband, 32-year-old son, her daughter-in-law, and two grandchildren who are going to school. Nadia requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected, because of low income and her family’s poor living conditions.
The family has a car. Nadia’s husband drives it as a taxi to earn a small daily income, which is the only source of income for the family.
Nadia requested a loan from Credo to start-up a family business. Her loan request was approved in the frames of a new joint initiative between Kiva and Credo. The start-up loan program has provisions for business start-up and re-startup credits with soft conditions to the rural poor who do not have access to credit products, as they are regarded as “high risk borrowers” because of their low income. With the received credit, Nadia will open a dining hall at the local school. She will cover the expenses for a license and purchase all the needed equipment. This business will not only help her to earn an additional income, but it will also provide students with a good lunch. With the increased income, Nadia will be able to cover their monthly expenses and provide better living conditions for her family members.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,323,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $900 helped Nadia to open a dining hall at the local school.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Apr 4, 2013
Apr 17, 2013
Currency Exchange Loss:
Apr 26, 2014