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Maka
Maka is 30 years old and lives in Kutaisi District with her husband, sister and her two children. Maka’s husband is a sailor. Maka requested loans from local financial institutions several times for a family business start-up but without any success. Her loan request was rejected each time because of low income and her family’s poor living conditions.

Maka requested a loan from Credo to start up 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 the country's rural poor. They do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Maka will begin trading in clothing and household goods. She plans to go to Turkey and purchase clothing and household goods at wholesale prices and then resell in Kutaisi. She will do her best to increase the income of her family and improve the living conditions for her children. The new business initiative, financed with the Kiva start-up loan, will significantly improve the life of the 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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $800 helped Maka to begin trading in clothing and household goods.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 11, 2013
Listed
Apr 19, 2013
Currency Exchange Loss:
N/A
Ended:
Mar 17, 2014