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Nana is 46 years old. She lives in Borjomi district with her 46-year-old husband, 22-year-old daughter (Natela) and 23-year-old son (George). Nana has requested loans from local financial institutions several times for the family business start-up but without any success. Her loan request was rejected each time because of low income and the family’s poor living conditions. The main source of the income for the family is the monthly salaries of Nana and her children. Nana is working as an old man’s nurse; her son is working at the local TV station as an operator; and her daughter is working at the local shop as a seller. In addition, Nana’s husband is getting a small monthly pension from government institutions as he is a war veteran.

Nana requested loan from Credo to start up the family business. Nana has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-start-up credits with soft conditions to rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With his credit, Nana will renovate her house. She will purchase all the needed materials and pay the artisan. After the house is renovated, Nana will rent the rooms out during the summer season. Because Borjomi district is becoming very popular as a tourist area and every summer is very crowded, Nana hopes her business will be profitable. New business will significantly increase the family income, and Nana will be able to provide better living conditions for her 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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Georgia

  • $6,100
    Average annual income
  • 48
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Nana to renovate her house in order to rent it out seasonally.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 19, 2013
Apr 26, 2013
Currency Exchange Loss:
Jun 17, 2014