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George is 40 years old. He lives with his mother in a small village in the Tskaltubo district.

The family runs an animal husbandry business. Specifically, they have four cows. His mother milks the cows every day and produces cheese for selling. In addition, his mother sells flowers.

Sadly, for lack of economic resources and because he had to start working at a very young age, George was unable to study a professional career. George decided to start his own business, and seek credit among local financial institutions; his attempts were unsuccessful because of his poor living conditions.

The startup program, a joint initiative between Kiva and Credo, enables the rural poor and inexperienced people to get a loan for starting or re-starting businesses. His application for a loan of $5,000 to build a greenhouse was approved under the framework of this program.

He will purchase the building materials, and tomato and cucumber seeds. As the greenhouse is built, he will sow vegetables and will sell the harvest at a good price.

The new business initiative will give him chance to have financial stability and a monthly 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $8,323,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped George to build a greenhouse.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Aug 15, 2013
Sep 18, 2013
Currency Exchange Loss:
Feb 17, 2015