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Elene is a 42-year-old married woman. She lives with her husband, two children, daughter-in-law, granddaughter and mother-in-law in the Gurjaani district, eastern Georgia. Her mother-in-law is provided with a retirement pension. The family has a vineyard and they produce wine to sell. In addition, Elene trades clothing. She requested a loan for purchasing a horse and calves.
The startup program, which is a joint initiative between Kiva and LLC Micro Finance Organization Credo, enables her to get a loan of 2000 Georgian lari (GEL). With the received credit she will purchase a horse and calves. Her husband will go to the local forest and transport wood by the horse to sell in winter times. She will raise the calves and start producing dairy products. The Start Up program will be a great support for the family to increase their 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Elene to purchase a horse and calves.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Aug 31, 2013
Oct 6, 2013
Currency Exchange Loss:
Nov 18, 2013