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Tea, age 38, is single and lives in the small town of Gori with her family: parents, brother, sister-in-law, and niece. Tea’s brother works for the local government and her sister-in-law is a manager of an esthetics clinic. Tea works at a restaurant. All the family members get monthly salaries.

Several times, Tea has requested loans from local financial institutions in order to start up her clothing trading business, but without any success. Her loan requests were rejected because of lack of experience in the business, which is usually demanded by local financial institutions.

Her loan request has now been approved in the framework of a new joint initiative between Kiva and Credo. This start-up loan program envisages the provision of business start-up and re-start-up credit, with soft conditions to country's rural poor, who do not have access to credit products, being regarded as 'high-risk borrowers' because of low income.

With the received credit, Tea plans to purchase clothing from wholesalers in Turkey and then sell these items from her house. After investing the funds in her business, Tea hopes to generate additional revenue and invest the profits to further develop her business.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,572,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Tea to start up a clothing trading business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jun 28, 2013
Jul 11, 2013
Currency Exchange Loss:
Aug 17, 2014