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Maia is 33 years old. She lives in the capital city of Georgia, Tbilisi, with her 36-year-old husband, George. Maia requested a loan from local financial institutions several times to start-up the family business, but without any success. Her loan request was rejected every time, because of low income and the family’s poor living conditions.

Maia is an English language teacher. She gives private lessons and earns a small, monthly income. Her husband George is an artisan. He carries out private renovation orders and fixes floors.

Maia requested a loan from Credo to start a family business. Her loan request was approved through the new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-start-up credits with soft conditions for people from the country and rural areas that are poor and who do not have access to credit products, and who are regarded as “high risk borrowers” because of their low income. With the credit, Maia will purchase second-hand clothes at wholesale prices to resell for profit. She wants to start trading to earn additional income for the family. With the profits, she will develop the business and purchase more second-hand clothes. Maia hopes her trading will be successful and she will earn a good income for the family to 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
  • 48
    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 $600 helped Maia to purchase second-hand clothes.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 8, 2013
Apr 12, 2013
Currency Exchange Loss:
May 17, 2014