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Khvicha is 42 years old. He lives in Shrosha village, Akhmeta district, with his 35-year-old wife, Nino, and three children (3, 9 and 10 years old). Khvicha requested a loan from local financial institutions several times for a family business start-up but without any success. His loan request was rejected all the 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 two milk cows and a pig. The cows are milked every day to make dairy products, which is sold at the local markets. From the pig they have piglets and also sell them at the market. Additional family income is Nino’s monthly salary. She is a teacher at the local school.

Khvicha requested a loan from Credo to start up a family business. He 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 of business start-up and re-startup 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, Khvicha will purchase a mini-bus. He wants to start trading in fruits and vegetables. He will purchase products at the wholesale price from his villagers and sell them in nearby villages with a price markup. This will bring him a good profit and he will be able to look after for his big family better and improve their 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
  • 28
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD
A loan of $4,850 helped Khvicha to purchase a mini-bus.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Apr 30, 2013
May 10, 2013
Currency Exchange Loss:
Jun 9, 2013