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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.

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
  • 49
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Madona to purchase a car to transport firewood.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Mar 22, 2012
Mar 30, 2012
Currency Exchange Loss:
Jun 17, 2013