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Vitali is 54 years old. He lives in the small village of Sachkhere District with his wife.

The only source of income for his family is from agricultural activities. They have a milking cow, whose milk is used for cheese products. In addition, they have a plot of agricultural land, where they grow walnut trees. They sell the harvested walnuts and cheese locally, but it is hardly enough food for the family. According to Credo estimates, the family belongs to the subsistence poor category.

Vitali has requested loans from local financial institutions on several occasions for a family business start-up, but without any success. His loan requests were rejected each time because of his low income and the family’s poor living conditions.

Vitali requested a loan from Credo for a start-up family business. Vitali has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages providing business start-up and re-startup loans to poor rural people, who do not have access to credit. These poor rural people, Vitali included, are regarded as “high-risk borrowers” because of their low income. With the loan proceeds, Vitali would like to begin trading groceries. Specifically, he plans to purchase a stock of groceries in Sachkhere and to then re-sell the groceries for profits from his home. He expects that the loan will allow him to increase the family's income. As a result, he believes that the new business initiative, financed with the Kiva start-up loan, will significantly improve his family's 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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Vitali to start a new business by purchasing and selling groceries.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 16, 2013
May 1, 2013
Currency Exchange Loss:
May 17, 2015