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Irakli is 24-year-old young man. He lives with his parents in a small village in the Kobuleti district. The only source of family income is from agricultural activities. They have a cow and small piece of land where they grow fruit. Irakli is unemployed at the moment.

As the existing income is not enough for the family, and Irakli can’t find a job, he decided to start his own business. All the financial institutions rejected his loan requests because of his unstable financial condition and lack of experience. After several unsuccessful attempts, Irakli applied for credit from MFO Credo. His request was approved in the framework of the Start Up program, which is a joint initiative with Kiva and permits the rural poor to start or restart businesses.

A loan of 1,200 GEL will help him to purchase a secondhand car. He will serve the local people as a taxi driver and transport them between cities. Irakli is a very enthusiastic and hardworking person with a great desire to help his parents to improve their living conditions. This credit will be a great support for the family. Irakli is thankful to Kiva lenders for giving him a chance to generate 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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Irakli to purchase a secondhand car to use as a taxi.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Nov 28, 2013
Dec 15, 2013
Currency Exchange Loss:
Jan 22, 2015