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Robert is 68 years old, married, and has one adult child. He is retired and lives in the capital city of Georgia, Tbilisi. Robert requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected because of low income and the family’s poor living conditions.

The family's main source of income is Robert’s and his wife Salome’s monthly pensions. In addition, they have a commercial space, which is rented out as a grocery shop and they receive a small monthly payment. Total income of the family is so small that it is not enough to cover their monthly expenses, including food.

Robert's loan request was approved as part of a new joint initiative of Kiva and Credo. The start-up loan program envisions provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit, being regarded as “high risk borrowers.” With the loan, Robert will purchase grocery stocks. He wants to stop renting his commercial space and use it to open a grocery shop himself. This business will be profitable as the shop is already well known by locals. He plans on reinvesting the profit and purchasing more varieties of products to attract more customers, which will significantly increase the income of the family and improve their 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Robert to purchase grocery stock and open a grocery shop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 13, 2013
Apr 19, 2013
Currency Exchange Loss:
May 17, 2015