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Aleksandre, age 52, is a construction worker from the town of Kutaisi. He is married with a 22-year-old son who is a basketball referee and gets a small monthly salary. Aleksandre’s wife lives and works abroad to help her family financially.

Their existing income is hardly enough to cover everyday expenses, which is why Aleksandre decided to find an additional job and work as a car mechanic. He needs special equipment to implement his plan.

With this startup loan, Aleksandre will purchase a cold welding machine and begin working at an automobile repair shop. He will serve local drivers and receive a service fee.

Aleksandre hopes that his initiative will be profitable and his wife will be able to return to the 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
  • 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 $900 helped Aleksandre to purchase a cold welding machine and begin working as a car mechanic.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jul 8, 2013
Aug 10, 2013
Currency Exchange Loss:
Feb 17, 2015