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Ramaz is 46 years old. He lives in the small village of Martvili District with his mother, who has a retirement pension.

Several times, without success, Ramaz has requested loans from local financial institutions to start a family business. His requests have been rejected because of his low income and his family’s poor living conditions.

The family’s only source of income is from agricultural activities. Specifically, the family has a milking cow, a calf and two pigs as well as a plot of land, where nut trees are grown.

Ramaz also has a mill and gets orders to grind maize. His earnings are hardly enough for food for the family. According to Credo, this family belongs in the “subsistence poor” category.

Ramaz has been approved for a loan from Credo to start a family business. He was approved for the loan within the framework of the new joint initiative of Kiva and Credo. This start-up loan program provides business start-up and re-startup credits with soft conditions to poor people in rural areas, who do not have access to credit. The rural poor are regarded as “high risk borrowers” because of their low incomes.

With his loan, Ramaz will begin trading in cereals, fruits and vegetables. This will increase the family's income. This new business initiative, financed with the Kiva start-up loan, will significantly improve the family’s 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
  • 53
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Ramaz to begin trade in cereals, fruits and vegetables.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Jun 27, 2013
Jul 10, 2013
Currency Exchange Loss:
Jan 18, 2014