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Maia is 36 years old, married, and lives with her two school-age children in the Samtredia district. Maia is jobless at the moment and the only money source for the family are small-sized money transfers from the abroad where Maia’s husband works. She has requested a small-sized loan to start up a beauty salon, as she used to work as a hairstylist and has experience in this field. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisions the provision of a business start-up and re-start-up credits with reasonable conditions for the country's vulnerable poor who do not have access to credit products since they are regarded as “high-risk borrowers” because of low income. Maia wants to rent a space and purchase the needed modern inventory for a hair care business. She will serve the customers as a stylist and generate daily income. According to her estimates, the business will be lucrative and the profits will be reinvested in the business. Maia will be able to increase her spending to satisfy their daily needs and improve their standard of living in the future.

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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Maia to start a beauty salon.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Oct 30, 2013
Nov 26, 2013
Currency Exchange Loss:
Jun 17, 2015