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David is a 33-year-old married man who lives with his wife, 9-year-old daughter, and parents. The entire family is actively involved in agricultural activities. In particular, they have 4 milking cows, whose milk is used in cheese products. They also have a vineyard and a plot of agricultural land, where nut trees are grown. David works hard to ensure a good harvest.

He decided to start his own business because his current income is seasonal and not enough for the family. All of the financial institutions rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, David applied for the credit to MFO Credo. His request was approved in the framework of a joint initiative, start-up program with Kiva. This program permits the rural poor to start or re-start businesses.

A loan of $4,300 will help David to purchase all the needed raw materials to build a greenhouse. Once the greenhouse is built, he will be able to grow tomatoes and greens and generate a more stable income. This will help David to improve the living conditions of his 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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,300 helped David to build a greenhouse.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 18, 2013
Aug 12, 2013
Currency Exchange Loss:
Apr 16, 2014