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Irma lives in the littoral city of Batumi. She is 37 years old and lives with her husband, retired father-in-law and three school-age children. Irma is unemployed at the moment. The only source of income for the family is the monthly salary earned by Irma’s husband working as a truck driver locally. He works hard all day long to generate an income but the family needs more and Irma decided to start a fast food café to earn additional income.

Several times, she has requested loans from local credit providers, but her loan requests are always rejected because of the lack of experience in her new business. Her current loan request was approved within the framework of a new joint initiative between Kiva and Credo. With the startup credit, Irma will set up a fast food café. She will purchase all the needed inventory and renovate her own commercial space to start business there. She will sell sandwiches, pies, and fizzy drinks. Summertime is high season in Batumi and the city is full of holiday makers. Irma hopes her business will be profitable and that she will attract many customers since there is no similar café nearby. The profit will be reinvested in the same business and Irma will be able to improve the living conditions of her 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,572,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Irma to purchase inventory and renovate commercial space to start a cafe.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jul 25, 2013
Aug 26, 2013
Currency Exchange Loss:
May 24, 2014