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Shota is 60 years old. He is married, and lives with his wife and mother in the small village of Chokhatauri district. His mother is provided with a retirement pension. As his wife has health problems, she gets small monthly pension from government institutions, which is hardly enough for medicines.

Shota is actively involved in agricultural activities. Specifically, he has two milk cows and a calf. In addition, he has a plot of agricultural land, where maize and nut trees are grown. He cultivates the land and does all the agricultural work to ensure a good harvest. The harvested products are sold at local markets.

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

A loan of 2,000 GEL will help Shota start his own business. He plans to purchase nuts, and then sell them at a higher price. This will increase the income of his family and increase his stablity.

With the support of the Start Up program, Shota will get an opportunity to be involved in his own business and tackle the financial difficulties.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,323,825
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Shota to purchase a stock of nuts to sell.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jul 29, 2013
Aug 10, 2013
Currency Exchange Loss:
Mar 19, 2015