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Edgar lives in the Ninotsminda district with his brother, sister-in-law, niece and a mother. He is 19 years old and jobless at the moment. Edgar’s brother works as a salesperson at the grocery, and he is the only one earning money in the household.

As that income is not enough to cover the family's every-day expenses, Edgar decided to start a new business. He found, however, that he doesn't have enough money to do so. Therefore, he needs some credit to implement his plan.

His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up (and restart-up) credits with soft conditions to the vulnerable poor who are regarded as “high risk borrowers.” Because of their low income, they do not have access to credit products.

With this credit, Edgar will purchase a second-hand car. He will serve the local people as a taxi driver and transport passengers.

Edgar is a very enthusiastic and hard-working person with a great desire to help financially his family members. This credit will be a great support for his family. Edgar is thankful to Kiva lenders for giving him the chance to generate income.

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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $5,000 helped Edgar to buy a car to use as a taxi.
Repayment Term
38 months (Additional Information)
Repayment Schedule
Aug 8, 2013
Sep 11, 2013
Currency Exchange Loss:
Oct 11, 2013