A loan of $500 helped to purchase clothing for resale.


Madona's story

Madona is 22 years old. She lives in the Akhaltsikhe District with her husband and an infant son. Madona had requested loans from local financial institutions several times for a family business start-up but without any success. Her loan requests were rejected because of low income and her family’s poor living conditions.

The only source of the income for the family is from her husband’s job as a distributor at a private company. He makes 750 Laris per month, hardly enough to feed a three-member family. According to Credo estimates, the family belongs to the subsistence poor category.

Madona has requested a loan from Credo to start a family business. Her loan request was approved in the framework of new joint initiative by Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit because they are regarded as “high risk borrowers” due to low income. With the received credit, Madona will purchase clothing from wholesalers and will resell at higher prices. This will increase the income of the family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of her family.



Loan details


Lenders and lending teams



Loan details