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Madona is a 37-year-old married woman from Kutaisi district. She lives on the first floor of their house with her husband and parents-in-law, who are provided with a retirement pension. Madona's husband is taxi driver, whose income is the only source for the family. Madona is pregnant and is unemployed at the moment.

Madona decided to start a family business and requested a loan. She wants to renovate the second floor of the house and then rent it out. She needs $3,000 to purchase raw materials and start renovation.

Her project is profitable, but it needs the support for further development. The local credit providers usually demand experience and some stable income from the borrowers. Her credit requests were rejected several times, as she doesn’t satisfy their requirements.

Madona received the credit in the framework of a joint initiative of Kiva and Credo, the so-called Startup Program that gives rural poor people the chance to start or re-start businesses. Madona plans to make the hostel comfortable for her clients and hopes that the business will be profitable.

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
  • 45
    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 $3,000 helped Madona to renovate a flat and rent it out.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Nov 28, 2013
Dec 21, 2013
Currency Exchange Loss:
Aug 28, 2014