A loan of $1,850 helped to purchase a refrigerator for her grocery store.


Madona's story

Madona is 36 years old, married and lives in Batumi city with her husband and two children (12 and 15 years old). The children go to the local school and her husband is an armament officer who earns a monthly salary. Madona’s economic activity is a newly started small grocery store. She also rents out a room in her house to earn additional monthly income. Madona requested a loan from local financial institutions for the business expansion, but without success. Her loan request was rejected because of low income and insufficient experience in her business.
Her loan request was approved through a new joint initiative of Kiva and Credo. The program provides start-up and re-startup credits with soft conditions to the country's rural poor. They do not have access to traditional credit products, being regarded as “high risk borrowers” because of low income.

Madona requested a loan to equip the store with an additional refrigerator. She will keep perishable products there and will be able to sell meat which is in high demand. The existing refrigerators are inadequate to store all the inventory. When Madona has an additional refrigerator, she will be able to increase her inventories as well as the turnover in the store. This will raise the income of the family, which will be used to improve the family’s living conditions. She awaits your support.



Loan details


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Loan details