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Maia
Maia lives in the Bolnisi District. She is 48 years old and lives with her grown son and husband. The source of income for the family is a small monthly salary earned by Maia, working as a teacher locally. Besides, the family runs a small dairy farm of two milk cows, whose milk is used in cheese products. The cheese is sold locally. In addition, she sows potatoes on the family-owned land and sells the harvested products at the local open market.

Maia’s husband has a tractor and serves local farmers. Maia and her husband decided to start their business, as their existing income wasn't enough for the family and their living conditions are poor. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provisions 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 their low incomes.

With the received credit, Maia will purchase a car, and her husband will serve the local people as a taxi driver. The income of the family will increase, and they will be able to improve the living conditions of the family. Along with the above mentioned, the family will have enough income to access regular credit products available in 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
  • 55
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Maia to purchase a car for her husband to use as a taxi.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 28, 2012
Listed
Dec 31, 2012
Currency Exchange Loss:
N/A
Ended:
Oct 17, 2013