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Vakhtang is 41 years old. He lives in Samtredia District with his wife, parents and two children. Vakhtang applied for a loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were always rejected, because of his low income and the family’s poor living conditions. The only source of the income for the family is from agricultural activities. In particular, they have a greenhouse, where cucumbers are grown. Besides that, they have a plot of agricultural land, where nut trees are grown. They sell the harvested nuts and cucumbers at local markets. It hardly provides enough for food for the family.
According to Credo’s evaluations, the family belongs to the “subsistence poor” category. Vakhtang applied for a loan from Credo to start up a family business. Vakhtang 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 provding business start-up and re-startup credits on 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 the credit Vakhtang will buy a milking cow. After purchasing the cow, they will be able to produce dairy products to sell, and thus increase the income of their 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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Vakhtang to buy a milking cow.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Jun 29, 2013
Jul 8, 2013
Currency Exchange Loss:
Sep 17, 2013