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Maka
Maka is 36 years old. She lives in the small village of Khoni District with her husband and parents-in-law, who are provided with a retirement pension. Maka requested a loan from local financial institutions several times for her family start-up business, but without any success. Her loan request was rejected every time, because of her low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have a milking cow, whose milk is used in making cheese products. They sell cheese at local markets. Besides this, her husband works as an electrician and gets a small income. It is hardly enough food for the family. According to Credo estimations, the family belongs to the poor subsistence category.

Maka requested loan from Credo to start-up a family business. Maka has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of a business start-up and restart-up credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With his credit, Maka will build a greenhouse. After the greenhouse is built, she will be able to sow vegetables there. The harvested vegetables will be sold at local markets at a good price. This will increase the income of their family. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions 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

  • $4,600
    Average annual income
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,155,125
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,200 helped Maka to build a greenhouse for her agriculture business.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 8, 2013
Listed
Jun 5, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 19, 2015