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Mindia is 38 years old. He lives in the village of Akhalisopeli with his 62-year-old father and 40-year-old brother.

Mindia has requested a loan from local financial institutions several times in order to start a family business. However, he has not had success. His loan requests were all rejected because of his low income and his family’s poor living conditions.

The family has an agricultural plot of land where nut trees and maize are grown. They also have milk cows, which are milked to make dairy products. By selling the harvested nuts, maize and dairy products locally at the markets, the family earns a small monthly income. However, this is rarely enough to cover their living expenses.

Mindia has requested a loan from Credo to start a family business. His loan request was approved within the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides business loans with soft conditions to the rural poor who do not have access to credit products since they are regarded as “high risk borrowers” because of their low income.

With the received loan, Mindia plans to open a cement workshop in which he can make cement blocks. He will purchase all the needed materials such as cement and start making blocks, which will be sold among the resellers. He will use the profits for reinvesting, in order to improve the business and increase its profitability. The new business will give Mindia a chance to grow the family's income and enjoy better 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
  • 51
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Mindia to purchase cement and other materials so he can start making cement blocks for his new start-up business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 12, 2013
Apr 18, 2013
Currency Exchange Loss:
Mar 17, 2014