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Malula is 37 years old. She lives in a small village of Akhaltsikhe District, South Georgia. Malula lives with her family: her husband, Tariel, two adult daughters (who are 20 and 17 years old), and a 2-year-old son. Malula’s eldest daughter is a student, and the younger daughter goes to school. Malula is busy with her trade business. She purchases dairy products, haricots, as well as other vegetables from local farmers and sells them in Tbilisi (the capital city of Georgia). She goes to Tbilisi every weekend. The total average monthly income of the family is 600 Laris. According to Credo estimations, the family belongs to the substantially poor category.

Malula has requested a credit for starting up a dairy farm. Her loan request was approved in the frames of a new joint initiative between Kiva and Credo. The start-up loan program provides business start-up and restart-up credits with soft conditions to the country's rural poor, which do not have access to credit products, because they are regarded as “high-risk borrowers” due to their low-income status. With the received credit Malula will start up a dairy farm. She will purchase two cows. The cows will be placed in an old cattle shed located in Malula’s yard. She will produce, on average, 40 kg of cheese each month and sell the produced cheese in Tbilisi together with other products that she sells. The income of the family will increase by 300 - 400 Laris, which will mean a 50% – 60% increase. The living conditions of the family will significantly improve. Malula will be able to finance the education of her younger daughter and provide better care for her little son. In addition to the above mentioned, in the future the family will have enough income to access regular credit products available on the country’s capital market.

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
  • 43
    View loans »
    Georgia Loans Fundraising
  • $7,931,175
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Malula to purchase two cows.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
May 21, 2012
May 23, 2012
Currency Exchange Loss:
Jul 17, 2014