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Shengel is 32 years old. She lives in Lagodekhi District with her 43-year-old husband and two children (8 and 10 years old). Shengel requested loan from local financial institutions several times for her family business start-up, but without any success. Her loan request was rejected each time, because of low income and family’s poor living conditions.
Her family has a greenhouse, where different types of vegetables are grown. They are well known among the villagers as a hardworking people that always have a good harvest. The products are sold to the resellers to earn small monthly income, which is the only source of living for them.
Shengel requested a loan from Credo to start up a family business. Shengel 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 her credit Shengel wants to start trading clothes. She will buy at the wholesale price to resell with a price markup among the villagers. This will help her to earn an additional income for the family and improve their living conditions. Shengel wants to ensure a better life for her children and make sure they get a proper education in the future. For this she will work as hard as she can and will try to develop her business.

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
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,925 helped Shengel to start trading clothes.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 12, 2013
Jun 21, 2013
Currency Exchange Loss:
Jan 18, 2014