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Guram is 28 years old. He lives in a small village Mereti, Gori district with his wife, retired parents and two children (1 and 6 years old). Guram requested loans from local financial institutions several times for family start up business, but without any success. His loan request was rejected every 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 a plot of land, where plum and apple trees are grown. Harvested products are sold at the local markets. Family has an additional income from Guram’s parent’s monthly pension. The family's total monthly income is 425 Gel. This amount is barely enough to feed 6 members family.

Guram requested a loan from Credo to start a family business. He has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program involves providing 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 Guram will purchase a milk cow. The cow will be milked every day to produce dairy products. Guram will sell the products at the local market and earn a profit. He is a very hard working man and in the future plans to reinvest the profit in development of the dairy farm by purchasing more milk cows and selling more dairy products. The new business initiative, financed with the Kiva Start-up loan, will give the family an opportunity to cover the food expenses, purchase household items and help 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $8,323,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Guram to purchase a milk cow.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
May 24, 2013
Jun 14, 2013
Currency Exchange Loss:
Jun 17, 2014