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Tamar is a 43-year-old woman. She lives in the Kutaisi district, West Georgia with her 13-year-old daughter, who goes to school, and her 81-year-old grandmother, who is provided with a retirement pension.

Tamar has opened a clothes shop locally. However, as the income is not enough for the family, Tamar decided to open a bakery. She sought credit among local financial institutions but her attempts were unsuccessful because of her poor living conditions.

The startup program, that is joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get a loan for starting or re-starting a business. Her application was approved under the framework of this program to get a loan of US$2000.

With the received credit she will open a bakery and bake Georgian bread. This will increase the income of her family and she will be able to improve the living conditions for 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
  • 51
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Tamar to open a bakery.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 6, 2013
Sep 5, 2013
Currency Exchange Loss:
Sep 17, 2015