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Irine is a 33-year-old married woman. She lives with her husband and two children in Batumi district. Her son works in security and this is the only source of income of their family. Other members of the family are unemployed now. In the region there is a high unemployment rate, but self-employment helps inhabitants to make living. So, she decided to start her own business with the loan, but the local credit providers usually demand experience and some stable income from the borrowers. Her credit requests were rejected several times, as she was unable to satisfy their requirements. She received the credit in the framework of the joint initiative between Kiva and Credo - Startup Program that gives rural poor people the chance to start or re-start businesses. With the loan of $3000, she will purchase a stock of groceries and will open a grocery store. The Start Up credit will be a great support for the family, as their income will be significantly increased. She sends her regards to Kiva Lenders.

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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $3,000 helped Irine to open a grocery store.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 29, 2013
Oct 6, 2013
Currency Exchange Loss:
Nov 5, 2013