A loan of $1,500 helped to purchase a car to transport firewood.

Madona's story

Madona is 21 years old. She lives in a small village in the Akhmeta District, East Georgia. Madona lives with her family: parents and 29-year-old brother David. Madona works as a nurse in the village. She gets 180 Laris per month and it is the only source of the income for the family. Based on Credo estimations, the family belongs to village poor category.

Madona’s brother used to have a car and he used it for transportation of wood from the forest. He was selling wood in his and nearby villages and earning more than half of the total monthly family income. His car was damaged a month ago, David sold it and stopped the business activities.

Madona requested credit to purchase a car for David. David will use the car for transporting wood from the forest. Wood will be sold in nearby villages and the family will get additional income. Their living conditions will significantly improve.

Madona’s loan request was approved in the frame of the new joint initiative of Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. The received credit will allow the family to start a new business, which will give additional income to the family.

Loan details

Lenders and lending teams

Loan details