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Tamaz, 37, lives in Kekhovani village, Adigeni district, with his wife Maia. Tamaz requested a loan from local financial institutions several times for family business startup, but without any success. His loan request was rejected every time, because of low income and the family’s poor living conditions.
The family's main source of the income is from agricultural activities. In particular, they own a plot of land, where potatoes are grown. They also have five milk cows and ten calves. The family milks the cows every day to produce dairy products. The harvested potatoes and dairy products are sold to local retailers.

Tamaz requested a loan from Credo to start up a family business. Tamaz has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The startup loan program envisages provision of business startup 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, Tamaz will purchase a minibus. He wants to start trading with potatoes and dairy products. Also when his calves are grown, Tamaz will be able to produce more dairy products. As retailers are buying the products at a low cost, he wants to distribute his products to the villagers and at the local markets to sell at a good price. This will help him to earn more income for the family and improve their 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $3,200 helped Tamaz to buy a minibus in order to be able to trade potatoes and dairy products.
Repayment Term
27 months (Additional Information)
Repayment Schedule
May 24, 2013
May 30, 2013
Currency Exchange Loss:
Jun 29, 2013