A loan of $625 helped to start trading in flour.

Madona's story

Madona is 52 years old. She lives in Martvili district, with two brothers and her retired mother. Madona requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time, because of low income and the family’s poor living conditions.

The family runs an agricultural business. In particular, they have a milk cow, one pig, and a plot of agricultural land where nut trees are grown. They milk the cow and make cheese, and this is sold with the harvested nuts, at the local markets. In addition, the family has additional income from Madona’s mother’s monthly pension.

Recently, Madona requested a loan from Credo to start up a family business. Madona has now been approved for a loan, within the framework of the new joint initiative of Kiva and Credo. The Start-up Loan program envisages provision of business start-up and restart-up credits, with soft conditions, to rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With her credit Madona will start trading in flour. She will purchase the product at the wholesale price and sell it, with a price markup, among the villagers and at the local markets. This business will bring Madona an additional income. With this income, she wants to start renovating the family's house, to have better living conditions.

Loan details

Lenders and lending teams

Loan details