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Tamar is 24 years old. She is married and lives with her 26-year-old husband and 4-year-old daughter in Akhaltsikhe district. Tamar requested loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and her family’s poor living conditions.

The main source of the income for the family is from trading. Tamar sells dishes and her husband sells fruit and vegetables. Tamar is purchasing dishes from the local market in the capital city at the wholesale price and sells with a price markup among the villagers. They both earn small monthly incomes, which are barely enough to cover all the household expenses.

Tamar requested a loan from Credo to start-up a family business. Tamar 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 Tamar will purchase more stock of dishes for resale. As she will have a bigger stock of dishes Tamara will not have to travel to the capital city so often. This will significantly decrease her expenses and increase the profit. 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
  • 28
    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 $800 helped Tamar to purchase more stock of dishes for resale.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jun 26, 2013
Jul 7, 2013
Currency Exchange Loss:
Feb 17, 2014