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Guman is 66 years old retired man. He lives in Tlughi village Ambrolauri district with his 59 year old wife. Guman requested loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.
The main source of the income for the family is from agricultural activities. In particular, they have 2 milk cows, 3 pigs and plot of agricultural land, where potatoes and nut trees are grown. The cows are milked every day to produce dairy products. Family sells meat and the harvested products together with dairy products at the local markets to earn small monthly income.
Guman requested loan from Credo to start-up family business. Guman 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 Guman will build a small building for drying the cones. This particular cone is the special type, which only grows in Ambrolauri region and is used for medicines. After collecting the cones Guman will dry and then hack them and get it ready for sales. It will be exported in the nearby countries where this product is highly requested. As not many people are busy with this business in the region Guram will earn a good profit and significantly increase the family income. With the increased income he will be able to have better life together with his wife.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Guman to build a small building for drying the cones.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
May 21, 2013
May 23, 2013
Currency Exchange Loss:
Oct 17, 2014