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Nodar is 58 years old. He lives in Gardabani District with his 52-year-old wife and two children (28 and 30 years old).

Nodar has requested a loan from the local financial institutions several times for a family business start-up, but without any success. His loan request has been rejected every time, because of low income and the family’s poor living conditions.

The main source of income for the family is from agricultural activities. They have a milk cow. The cow is milked every day and the family makes dairy products, which are sold locally at the markets. Nodar’s daughter is working at the local shop as a seller and gets a small monthly salary.

Nodar requested a loan from Credo to start-up a family business. Nodar 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 provision for business start-ups and re-startup credits with soft conditions for 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, Nodar will purchase chicks and a calf. He already has the cages ready, where he will raise the chicks. After the chicks and calf are grown they will be sold at the local markets and Nodar will earn a good profit. He will reinvest part of the profit in the same business, in order to develop their agricultural business and use another part to provide better living conditions for 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $8,323,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Nodar to purchase chicks and a calf.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Apr 22, 2013
Apr 27, 2013
Currency Exchange Loss:
Mar 17, 2014