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Iuri, age 52, is a very kind and hard-working married man. He lives with his wife and a grown son in the littoral town of Kobuleti.

Iuri is a joiner and manufactures window frames. His wife is a librarian, and their son works as a security guard at the petrol station. They get monthly salaries.

The existing funds are too small, so Iuri decided to start up his own business. There is a high unemployment rate in the region, and the majority of the inhabitants are self-employed to make a living. To be able to start up his business, he is requesting a USD 4,200 loan. His loan request was approved, in the frame of a new joint initiative of Kiva and Credo.

The start-up loan program envisages provision of business start-up and restart-up credits with soft conditions, to rural vulnerable poor people who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the amount he is asking for, Iuri will found a metal and plastics workshop. He has purchased all the needed equipment for manufacturing and needs money to purchase materials for making doors and windows.

Iuri will manufacture and sell them at a good price, because demand is high in the region. He has already got a large quantity order and hopes his business will be lucrative in future. Iuri used to work as a hired worker in this kind of workshop, and he has proper experience in this field.

This loan will be a great help for Iuri, to generate revenue and give his family better financial stability.

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
  • 48
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,200 helped Iuri to purchase stocks of materials for his metal and plastic workshop.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 19, 2013
Oct 25, 2013
Currency Exchange Loss:
Jan 22, 2015