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Israil is 45 years old. He lives in Ochkhamuri village, Kobuleti district with his 42-year-old wife, four children and retired mother. Israil requested loan from the local financial institutions several times for his 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.

Israil has a car. He drives it as a taxi to transport local people and earns small daily income, which is the main source of living for the family. Their additional income is Israil’s mother’s monthly pension. He is very hard working man and works long hours to earn good income, but it’s still not enough to feed his seven-member family.

He requested loan from Credo to start-up a family business. Israil 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- start-up 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, Israil will install gas equipment in his car. The gas is cheaper then fuel and with installing the gas system in the car he will decrease his expenses and increase the profit. Increased profit will help him provide all the needed living conditions for his family. Israil hopes for your support.

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
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Israil to install gas equipment in his car.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
May 15, 2013
May 22, 2013
Currency Exchange Loss:
May 17, 2014