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Edvard is a 37-year-old married man who lives in the small village of Kobuleti district with his wife, Gulnara, and parents. Gulnara is a teacher at the local public school. Edvard is actively involved in agricultural activities. In particular, he has a plot of agricultural land where nut trees and mandarin trees are grown. He sells the harvested products at the local markets.

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

A loan of $3,000 will help him to purchase a minibus. Once the minibus is purchased, he will work on the minibus line and increase the family income. With the increased income, he will be able to improve the living conditions of his family members.

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
  • 29
    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 $3,000 helped Edvard to purchase a minibus and work on the minibus line.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 9, 2013
Aug 12, 2013
Currency Exchange Loss:
Mar 17, 2014