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Maya
Maya is from the small town of Gori. She is 25 years old, is married, and lives with her family: her husband, brother-in-law, mother-in-law, sister-in-law and 3-year-old son.

Maya has requested loans from local financial institutions several times for her trading business start-up, but without any success. Her loan request was rejected each time, because of low income and the family’s poor living conditions. The only source of income for the family is the small monthly salaries of Maya’s husband and brother-in-law, who work as soldiers. Maya distributes cosmetics among her neighbors and has a small income. According to Credo estimations, Maya’s family belongs to the subsistence poor category.

Maya requested a loan from Credo to start up a trade business of clothing sales. Her loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

Maya will purchase clothes in Tbilisi for wholesale prices and resell them in her town for a profit. It will be hard work for Maya, but according to estimations, her business will be profitable and increase the income of the family. The increased profit will be reinvested in clothing trading to increase her stocks and sales volume. The family members will be able to increase their spending to satisfy their daily needs, in order to improve their living conditions.

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

  • $4,600
    Average annual income
  • 79
    View loans »
    Georgia Loans Fundraising
  • $6,884,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $300 helped Maya to purchase clothing for trade.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 16, 2012
Listed
Nov 21, 2012
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2013