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Elene, who is a 28-year-old, married woman, lives in Borjomi district. Her family members are her husband and her mother-in-law, who works at the hospital and generates an insignificant salary. Elene's husband has a state job and earns 700 GEL monthly. Elena doesn't have her own business, but she works at a private clinic as a dentist and her income is distributed to the owner of the clinic.

Now, she needs financial support to purchase a stock of tools and hardware to continue running her business herself. She has already had a large number of loyal and satisfied costumers and she can only progress by opening her own clinic. Elena has been approved for a loan within the framework of a new joint initiative between Kiva and Credo. The start-up loan program provides business start-up loans with soft conditions to informal businesses that do not have access to credit products. The loan will greatly assist Elena and she will be able to improve her economic situation and give her family a better style of life.

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
  • $8,323,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Elene to open a dental clinic.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Jun 19, 2014
Jul 20, 2014
Currency Exchange Loss:
Oct 17, 2015