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Revaz is 26 years old. He lives in Akhaltsikhe District with his 26-year-old wife and two children, who are going to school. Revaz requested a loan from local financial institutions several times for family business start-up but without any success. His loan requests were rejected all the time because of his low income and the family’s poor living conditions.

Revaz has his own car washing service. He is working there and washes cars to earn a small income for the family which is not enough to cover their monthly expenses.

Revaz requested a loan from Credo to restart a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up credits with soft conditions to country rural poor, who do not have access to credit products being regarded as “high risk borrowers” because of low income.

With the received credit, Revaz will start trading clothes and household goods. He will purchase the products from the big market at the wholesale price and resell them among the villagers with a price markup. Revaz used to have this business before, and he is very experienced in this field. This will help him to restart up his business and make it successful. He will earn good profit which will be used for reinvesting and developing the business. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Revaz to start trading clothes and household goods.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 1, 2013
Apr 20, 2013
Currency Exchange Loss:
Nov 18, 2013