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Nino is 35 years old. She lives in Gori with her two daughters. Nino has requested a loan from several local financial institutions in order to start a family business. However, she has not had success. Her loan requests were rejected because of the family's low income and poor living conditions.

Nino’s mother lives in Italy and sends shoes to Nino to sell. This is the only source of income for the family, and it is hardly enough to provide food for the family. According to Credo estimations, the family belongs in the subsistence poverty category.

Nino has requested a loan from Credo to start a family business. Nino has now been approved for a loan within the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides business start-up credits with soft conditions to rural poor people and those who do not have access to credit. These rural poor are regarded as “high-risk borrowers” because of their low income.

With this loan, Nino will buy bed clothes to sell. She plans to go to Turkey and purchase the bed clothes from wholesalers and then resell the bedding at higher prices. This will increase the income of the family. This 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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Nino to buy bed clothes to sell.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Apr 24, 2013
Apr 29, 2013
Currency Exchange Loss:
Dec 20, 2013