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Maia is a 44-year-old woman from a small village in Khashuri district. She is married and lives with her husband, two children (13 and 14 years old) and her mother, who is provided with a retirement pension. Her children go to a local school. Maia applied for loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were always rejected, because of her low income and the family’s poor living conditions.
The only source of income for the family is from agriculture. In particular, they have a milking cow, whose milk is used to make cheese products. Maia produces cheese every day and sells it at local markets at a good price. The income is hardly enough for food for the family.
According to Credo’s evaluation, the family belongs to the “subsistence poor” category. Maia applied for a loan from Credo to start up a family business. Maia 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 re-startup credits on soft conditions to rural poor people who do not have access to credit products. These people are regarded as “high risk borrowers” because of their low income. With the credit, Maia will begin trading in clothing and bed-linens. She plans to go to Turkey and buy clothing and bed-linens from wholesalers and then to resell them at higher prices among her villagers. This will give her a chance to increase her family's income. The new business initiative, financed with a Kiva start-up loan, will significantly improve the family’s 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
  • 47
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Maia to begin trading in clothing and bed-linens.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Jun 26, 2013
Jul 11, 2013
Currency Exchange Loss:
Oct 17, 2013