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Mariam
Mariam is 59 years old. She lives in Khoni district with husband, her 25-year-old son, and her 23-years-old daughter-in-law. Mariam requested loans from local financial institutions several times for her family business start-up, but without any success. Her loan request was rejected every time, because of low income and the family's poor living conditions.

Her family owns an agricultural plot of land where maize is grown. Also they have a milk cow. Mariam is milking the cow to make dairy products and sells them along with the harvested maize at the local markets.

Mariam requested a loan from Credo to start a family business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor, who do not have access to credit products, being regarded as "high risk borrowers" because of low income.

With the loan Mariam wants to start trading in household goods. She will go to the capital city to purchase stock at wholesale prices, bring it to her village and sell it with the price markup among her villagers. This business will bring good profits to Mariam's family. She plans to reinvest part of the profit in the same business and use another part for providing better living conditions for her family.

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
  • 70
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $500 helped Mariam to purchase household goods at the wholesale price.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 14, 2013
Listed
Apr 8, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014