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Peliks is 52 years old, a married man from the Senaki district of West Georgia. He lives with his wife and three children who go to the local school. The only income source for the family is their small monthly social assistance from the local government institutions, as they belong to the subsistence poor category and live in poverty.

As the existing income is not enough to make ends meet for a five-member family, Peliks decided to start a trading business with a loan but the local credit providers usually demand experience and some stable income from the borrowers. Peliks’s credit requests were rejected several times, as he didn’t satisfy their requirements.

Peliks received this credit in the framework of a joint initiative of Kiva and Credo, the so-called Startup Program that gives rural poor people the chance to start or re-start businesses. The loan of 700 USD will help Peliks to purchase starting inventory of fruit and vegetables. He will transport the products twice a month from the neighboring town and renew the assortment from local distributors as well.

Peliks thinks that the business will be profitable, as the market where his stall is situated has a great location and is crowded with people. After the business is started, the family will have a stable income to access regular credit products available in the country’s capital market, in case of need.

Peliks is very enthusiastic and is a hard-working person with a great desire to ensure his children get a good education for progressing in life.

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
  • 34
    View loans »
    Georgia Loans Fundraising
  • $8,323,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $700 helped Peliks to start up selling fruit and vegetables.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jun 28, 2013
Jul 18, 2013
Currency Exchange Loss:
Jan 18, 2014