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Madona is 59 years old, and she is from a small village in the Martvili district. She lives with her parents, who are provided with a retirement pension.

Madona requested loans from local financial institutions several times in order to start a family business, but she met with no success. Her loan request was rejected every time because of her low income and the family's poor living conditions. Currently, the family's only source of income is their agricultural business. Specifically, Madona has a cow, whose milk is used in cheese production. Madona sells the cheese locally in an open market at a good price. This activity provides hardly enough food for a three-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Madona's loan request was approved through a new joint initiative of Kiva and Credo. The start-up loan program envisages providing credit with soft conditions for start-up and restart-up businesses to the rural poor, who do not have access to credit products and are regarded as “high risk borrowers” because of their low income. Madona requested a loan from Credo to purchase an additional milk cow. After purchasing the cow, she will be able to increase her cheese production, which will significantly increase the family's income and improve their living conditions.

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
  • 28
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Madona to purchase a cow.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Oct 31, 2012
Nov 21, 2012
Currency Exchange Loss:
Jun 17, 2014