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Emzar is 42 years old, married, and lives in the town of Kutaisi with his wife, his retired mother, and his two children who go to the local school. Emzar’s wife has chronic health problems and gets small monthly assistance from the local government.

Emzar is a bread distributor and works hard all day long, but his wage is modest and is not enough for his family of five. That’s why he decided to start his own business. Emzar plans to purchase a van and make bread deliveries himself. He will leave his current job and start a distribution business in his town, but he needs financial support for implementing his plan.

The asking amount will be added to Emzar’s savings and he will be able to purchase a secondhand van. After the van is purchased, Emzar will buy bread at wholesale prices from the bakery and distribute them to local groceries. The new business initiative will be a great support for his family, as they will generate income and improve their living conditions.

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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $950 helped Emzar to purchase a van and start a bread distribution business.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Jul 10, 2013
Aug 11, 2013
Currency Exchange Loss:
Jun 26, 2014