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Mzia is 44 years old. She lives in the Sagarejo district with her husband and five children. Mzia receives a pension from the local government as she has many children. She has requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected each time because of low income and the family’s poor living conditions. The only source of income for the family is small monthly salaries earned by Mzia’s husband and her eldest son, who works locally as a shepherd. Besides this, they own two donkeys and transport wood from the forest to sell among their villagers. The income is hardly enough for food for a seven-member family. According to Credo estimations, the family belongs to the Subsistence Poor category.

Mzia requested a loan from Credo to start up the family business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program aims to provide business start-up and re-startup credits, with soft conditions, to the country’s rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the credit she received, Mzia will purchase stocks of basic groceries for starting up a small grocery store. She will sell the products with a price mark-up and this will increase the family income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the large 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Mzia to buy stocks of basic groceries for starting up a small grocery store.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Feb 6, 2013
Feb 26, 2013
Currency Exchange Loss:
Nov 17, 2014