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Mzia
Mzia is 49 years old. She lives in the Kaspi District with her husband and 20-year-old son. Her family members work at the brick factory and get small monthly salaries, but they still live in poverty because the income is not enough for three-member family.

Mzia requested a loan to start a dairy farm. Her loan request was approved as part of a new joint initiative between Kiva and Credo. The start-up loan program provides loans with reasonable terms to start-up businesses. These loans are provided to the country's rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” due to their low incomes.

With this loan, Mzia will purchase building materials and build a cattle shed. Another part of the loan will be used for purchasing a milk cow. She will place the cow in the new cattle shed in her yard and will start producing cheese to sell at the local open market.

The family's income will increase by 150 – 200 GEL (Georgian Lari), which is a 45–60% increase. The family's living conditions will significantly improve and the family will have enough income to access regular credit products available on the country’s capital market, in case of need.

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
  • 54
    View loans »
    Georgia Loans Fundraising
  • $6,847,800
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Mzia to start a dairy farm by building a cattle shed and purchasing a milk cow.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2012
Listed
Dec 11, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 20, 2013