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Sixty-year-old Iuri lives in the small village of Zana, Senaki district, with his 57-year-old wife, 35-year-old son, daughter-in-law and two grandchildren, who are 10 and 13 years old. Iuri requested a loan from local financial institutions several times for a 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 income for the family is their agricultural activities. They have: two milk cows, two calves, and one pig. Also, they own a plot of agricultural land, where nut trees and maize are grown. The whole family is involved in their agriculture. Iuri’s wife and daughter-in-law are milking the cows and producing dairy products. Iuri and his son are cultivating the land and growing the harvest. All the products are sold among the villagers, or at the local market, and the family earns a small monthly income.

Iuri has requested a loan from Credo to start up a family business. Iuri 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 restart-up credits, with soft conditions, to rural poor people, who do not have access to other credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit, Iuri will purchase chickens. He wants to develop a poultry business, in order to expand his agriculture. After the chicks are grown, they will be sold at a higher price and Iuri will make a good profit. With the increased profit, he will be able to improve the living conditions of the family and provide a better life for them.

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
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $175 helped Iuri to purchase chickens.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
May 30, 2013
Jun 10, 2013
Currency Exchange Loss:
Mar 17, 2014