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Elmira is a 53-year-old woman. She lives with her son, Magarram, and daughter-in-law in a small village of Gardabani district. They are not employed now. The family’s only source of income is her husband’s and son’s salary. They work in Russia.

Their village is far from the town, and there is no convenient public transportation to the town. In the village there is a low employment rate, and people who are employed have to go to town by taxi. They have already found a car to buy for Magarram to use as a taxi, and Elmira decided to request a loan for purchasing it. The Start Up program, which is joint initiative with Kiva and MFO Credo, gives her a chance to get a loan of $2,000. After purchasing a car, Magarram will serve local people as a taxi driver and generate income. He already has a driver’s license.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,318,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Elmira to purchase a car.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Aug 21, 2013
Sep 23, 2013
Currency Exchange Loss:
Apr 17, 2015