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Madona is a 43-year-old married woman from village of Gumati, in the Tskhaltubo district. She lives with her husband who earns a fixed income working at a private company. His 385 GEL monthly salary is the only significant income for family. Madona takes care of their apple orchard but they use the produce for the family only. She has a great desire to start dairy farming.

Madona is requesting a loan to purchase a milk cow to produce milk to sell locally. Her loan was approved through the framework of a joint Kiva and Credo start-up initiative that gives rural poor people the chance to start or re-start businesses. Madona’s loan will give her a chance to earn income and become financially independent. She hopes that her loan with the start up program will help her to save money and expand her business in the future.

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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • 1.8
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Madona to purchase cow and start dairy farming.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Apr 12, 2014
Apr 29, 2014
Currency Exchange Loss:
Nov 6, 2014