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Aleksandre is a 48-year-old married man. He lives with his wife and son in the small village of Tskaltubo district. His wife is a housekeeper. The family is involved in agricultural activities. In particular, they have two milking cows and produce dairy products for selling. Besides this, they have a small plot of agricultural land, where different kinds of fruits and vegetables are grown. In the region there is a high unemployment rate, but self-employment helps inhabitants to make a living. So, he decided to start his own business with the loan but the local credit providers usually demand experience and some stable income from the borrowers. His credit requests were rejected several times, as he was unable to satisfy their requirements. Aleksandre received the credit in the framework of joint initiative of Kiva and Credo--a startup program that gives rural poor people the chance to start or restart businesses. With the loan of 1,000 GEL, he will build a greenhouse and grow cucumbers and tomatoes there. He will sell the harvested products locally at a good price. This will increase the income of his family. With increased income they will be able to improve the living conditions of their 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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Aleksandre to build a greenhouse.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 8, 2013
Sep 9, 2013
Currency Exchange Loss:
Jan 18, 2014