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Guram is a 43-year-old artisan. He lives in Zestaponi district with his wife, retired mother, son, daughter-in-law, and an infant grandchild. He is working on private orders for construction to earn a small monthly salary, which is rarely enough to feed his 6-member family. Their additional income is Guram’s mother’s small monthly pension.

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

Guram also requested a loan from Credo to start up a family business. Guram 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. Such rural poor people are regarded as “high-risk borrowers” because of their low income. Guram will use the loan amount to purchase a cement-block bottling machine and raw materials. He wants to start producing cement blocks and sell them locally.

Guram is a very hardworking man, and the loan will give him an opportunity to develop the new business and increase his family's income. As he is experienced in the construction business and knows a lot of people around, he will be able to sell good numbers of blocks and earn a profit. He will reinvest part of the profit in the same field and expand the business and will use another part for his family's well-being. He will be able to improve their living conditions with the increased income.

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
  • 43
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Guram to start producing cement blocks by purchasing a cement-block bottling machine and raw materials.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
May 14, 2013
May 21, 2013
Currency Exchange Loss:
Jul 17, 2015