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Gogita is a 41-year-old married man and lives in Matani, in the Akhmeta district. At home he has his 74-year-old pensioner mother. Gogita's wife lives abroad. They have 2 children, who live in a special education and rehabilitation center for disabled children, who have physical, mental and developmental disabilities. Gogita doesn't have his own job and now the only income for the family is his mother's pension. He couldn’t receive a loan from the local financial institutions, because of their requirements to have business experience or stable revenue, until the Start Up program began which is a joint product of Kiva and Credo. The program allows rural residents like Gogita to get a chance at starting or re-starting business. He requested a loan of 3,000 USD to open a Georgian traditional bakery. This will give him a chance to earn income and become financially independent. With the Start Up program Gogita will be able to earn savings and provide better future.

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
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Gogita to open Georgian national bakery.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 20, 2013
Dec 22, 2013
Currency Exchange Loss:
Nov 23, 2014