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Dali is 65-year-old retired woman. She lives in the Borjomi district with her retired mother and retired aunt. Dali requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected every time because of her low income and the family's poor living conditions.

All three members of the family are getting pensions of 125 Lari per month. This is the only source of income for them. Dali requested a loan from Credo to start up a family business. Dali 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 Dali will purchase all the needed materials to finish her house renovation. The family owns a 3 floor house, and already had some savings which were used start the house renovation. Dali plans to rent out seasonally the first and second floors of the house to tourists. The family will earn an additional income with this business and they will be able to 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $5,000 helped Dali to finish renovating her house so the first two floors can be rented.
Repayment Term
35 months (Additional Information)
Repayment Schedule
Jun 14, 2013
Jun 29, 2013
Currency Exchange Loss:
Jul 29, 2013