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Viktor, 41 years old, lives in the Rustavi district with his wife and nine-year-old son. He has requested loans from local financial institutions several times for a business start-up but without any success. His loan requests were all rejected because of his low income and the family’s poor living conditions.

The family runs an agricultural business. They own a plot where potatoes are grown and have bee hives. The honey is sold at local markets, and the family earns a small monthly income.

Viktor requested a loan from Credo to start a business. He has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program helps rural poor people who do not have access to credit products. These rural poor are regarded as “high-risk borrowers” because of their low income.

With his loan, Viktor will purchase a crane truck. He will hire a driver or sometimes drive it himself to provide services. These trucks are used for fixing street lights, putting up advertising banners and for things people can’t reach with a ladder. Not many of these trucks exist in Viktor's district, so he will have a lot of orders and will earn a good profit. This will significantly improve the living conditions of the family.

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
A loan of $5,000 helped Viktor to purchase a crane truck.
Repayment Term
39 months (Additional Information)
Repayment Schedule
May 28, 2013
May 30, 2013
Currency Exchange Loss:
Jun 29, 2013