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Mzia
Mzia is a 50-year-old, woman from Sabue village. She lives with her husband and son. The only breadwinner in their family is Mzia, who works hard to make financial stability for her family members. She works as a private worker at any kind of agricultural activity and is paid according to the work done. However, the income is insignificant to cover all daily expenses of the three-member family. The family lives below the poverty line. Mzia has a great desire to somehow improve their lifestyle and increase her monthly income. That's why she requested a loan and wants to open a mini-grocery store near her house. She claimed a loan of 2,000 GEL to purchase stocks of products and was approved with the joint initiative between Kiva and Credo, the start-up program that enables poor people like Mzia to start or re-start businesses. The family's living conditions will significantly increase, as Mzia will have a stable source of income and not depend only seasonal activities. She will be really grateful for the help and regards Kiva lenders.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • 1.8
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Mzia to purchase stocks of products for her grocery store.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 7, 2014
Listed
Jun 9, 2014
Currency Exchange Loss:
Possible
Ended:
Dec 4, 2014