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Nargiz is 65 years old. She lives in Zestaponi district. Nargiz is provided with a retirement pension. Nowadays she has no source of income, but is a very hard-working woman and motivated to run her own business. She belongs to the subsistence poor category, as she lives under poverty line.

According to the above mentioned situation, Nargiz lacks the access to capital markets and financial institutions to obtain credit for starting business, as they require a stable income and business experience.

The Start Up program created by Kiva and Credo enabled her to get a loan of $300 and start her own business. She will purchase a stock of merchandise, such as groceries and household goods, then she will open a grocery store in her yard, near the main road.

Nargiz thinks that the business will be profitable, as it is in a great location and the only business of its kind in the area. After the grocery store is opened, she will have a stable income, which enables her to cover her everyday costs, as well as expand the business in the future.

With support of the Start Up program, Nargiz will have an opportunity to be involved in her own business and tackle the 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $300 helped Nargiz to purchase a stock of groceries and household goods to open a grocery store in her yard.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Aug 21, 2013
Sep 22, 2013
Currency Exchange Loss:
Oct 17, 2014