Check out some available loans that are similar to this one!
George, 30years old, lives in the small village of Telavi with his wife, mother and two infant daughters. The only source of income for the family is the small salary George earns as a physical worker. Because his income is not stable and inadequate for the family, he decided to start his own business and seek credit among local financial institutions, but his attempts were unsuccessful because of his poor living conditions.

The startup program that is a joint initiative between Kiva and Credo enables the rural poor and inexperienced to get a loan to start or re-start business ventures. George's application for a loan of 550 Gel was approved under the framework of this program. He will use the loan to purchase a motorbike to transport wood from the forest to resell. This, along with his job as a manual laborer, will generate a stable income, thereby giving him a real opportunity to improve the living conditions of his 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped George to purchase a motorbike to transport wood.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jul 31, 2013
Sep 3, 2013
Currency Exchange Loss:
Apr 16, 2014