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Ivane is from a small village in Terjola district. He has a large family which includes parents, his wife, brother, daughter-in-law and two cousins. In the past, Ivane has requested loans several times from local financial institutions in order to start-up a family business but without any success. His loan requests have all been rejected due to low income and the family’s poor living conditions.

The family is actively involved in agricultural activities. Specifically, they have three milking cows whose milk is used to make cheese products. In addition, they have a vineyard with 1200 wine trees. They pick grapes seasonally and produce wine to sell. They sell wine and cheese locally at a good price. However, there is hardly enough for food for the family. According to Credo estimates, the family belongs to the subsistence poor category.

Ivane has requested a loan from Credo to start-up a family business and he has now been approved for a loan within the framework of the new joint initiative from Kiva and Credo. The start-up loan program envisages the 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 his credit, Ivane will purchase a minibus and will begin trade with groceries. He will transport groceries to sell with his minibus to different villages. This will be an additional source of income for his large family. The new business initiative, financed with the Kiva Start-up loan, 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
  • 29
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,500 helped Ivane to purchase a minibus to transport vegetables to sell.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 14, 2013
Jun 22, 2013
Currency Exchange Loss:
Jul 17, 2015