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Tamara, age 25, is a maize farmer. She grows maize on a half hectare of agricultural land, then harvests and sells the produce locally. She lives in the small village of Lagodekhi District with her two daughters and grandmother, who is provided with a retirement pension. Their income barely provides enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Tamara would like to start up a family dairy farm business. She has requested loans from local financial institutions several times for family business start-up purposes, but without success. Her loan request was rejected each time because of her low income and the family’s poor living conditions.

She has now requested a loan from Credo to start up the family business. She has 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 because they are perceived as “high risk borrowers” due to their low income.

With the received credit, Tamara will purchase a milking cow. Once the milking cow is purchased, Tamara will produce dairy products to offer for sale. In an effort to earn additional income, she will also purchase clothing items to offer for sale. These investments will increase the income of her family.

Tamara's new business initiatives, 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Tamara to purchase a milking cow, as well as clothing items to offer for sale.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jun 24, 2013
Jul 1, 2013
Currency Exchange Loss:
Aug 17, 2014