Check out some available loans that are similar to this one!
Akaki is 24 years old. He lives in Zestaponi District with his 24-year-old wife and parents. Akaki has requested loans from local financial institutions several times for family business start-up, but without any success. His loan request was rejected every time, because of his low income and his family’s poor living conditions.

The main source of the income for the family is from agricultural activities. In particular, they have two milk cows and two pigs. Also they own a vineyard and plot of agricultural land where they grow vegetables. The cows are milked to make dairy products, and from the pigs they get piglets, which are sold with the dairy and harvested products locally at the markets. Akaki also has a car and he drives it as a taxi to earn additional income for the family.
Akaki requested loan from Credo to start up a family business. Akaki has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program provides 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, Akaki will purchase calves. He wants to expand his agricultural business. He will raise the calves and sell them at a better price and earn additional income. He will reinvest part of the profit in the same business and he will use another part to 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
  • 51
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,300 helped Akaki to purchase calves.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Apr 30, 2013
May 10, 2013
Currency Exchange Loss:
Nov 18, 2013