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Karlo is a 36 year old married man who lives with his wife and four children in Rustavi district. His wife is a housekeeper. Karlo trades fruit and vegetables, and has a minibus to use for transporting the fruit and vegetables. In the region there is a high unemployment rate, but self-employment helps inhabitants to make a living.
Karlo decided to get a loan, but the local credit providers usually demand experience and some stable income from borrowers, and his credit requests were rejected several times as he was unable to satisfy their requirements.
Karlo received the credit in the framework of the joint initiative of Kiva and Credo's startup program, which gives rural poor people the chance to start or re-start businesses. With the loan of $600, he will install gas equipment in his minibus, which is cheaper than petrol. This will reduce his costs and he will be able to transport more fruit and vegetables as he will not have to pay for petrol. With support of the startup program, Karlo will get an opportunity to tackle his financial difficulties.

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
  • 42
    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 $600 helped Karlo to install gas equipment in his minibus.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 9, 2013
Sep 11, 2013
Currency Exchange Loss:
Sep 17, 2014