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Aleksi is 51 years old. He is married and lives in Akhmeta district with his wife and school-aged son. The family runs a small-scale agricultural business that has a cow whose milk is sold locally. Aleksi’s wife works as a local school principal and receives a monthly salary. Aleksi has made multiple loan requests, without success, from the local financial institutions in order to start up a trading business. His loan requests were rejected each time due to low income.

Aleksi’s loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit with soft conditions. Borrowers are the rural poor who do not have access to credit products, since they are regarded as ‘high-risk borrowers’ because of their low income. With the received credit, Aleksi will purchase basic groceries and set up a store. He plans to increase the turnover in his trade business gradually.

The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Aleksi will work hard, and he will be able to improve the living conditions for his family. With this loan, his family will generate enough income to access regular credit products in the country’s capital market, in the event that they need it.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
A loan of $4,250 helped Aleksi to purchase groceries.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 17, 2013
Jul 8, 2013
Currency Exchange Loss:
Aug 7, 2013