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Gulnazi and her family live in the village of Dablatsikhe. She is 58 years old and has a grown son who is a hired worker and gets a small monthly salary.
Nearly 20 years ago, Gulnazi began her own shop, selling food and household items including sweets and candies, dairy products, eggs, canned goods, dishes, etc.

She considers her business fairly profitable but it needs support for further development. Gulnazi has decided to renew her entire inventory, so she is requesting a loan of 2,100 GEL. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisions the provision of a business start-up and re-start-up credits with reasonable conditions for the country's rural poor who do not have access to credit products since they are regarded as “high-risk borrowers” because of low income. With the amount Gulnazi is asking for, she will buy more merchandise and have a well-stocked store. She will attract more clients and increase the turnover gradually.

This credit will be a great help for Gulnazi to add more products to her store. She hopes for and awaits Kiva lenders' support and kindness.

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
  • 50
    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 $1,275 helped Gulnazi to buy more merchandise for her general store.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Jun 28, 2013
Jul 14, 2013
Currency Exchange Loss:
Oct 17, 2014