A loan of $3,000 helped to renovate a flat and rent it out.

Madona's story

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.

Loan details

Lenders and lending teams

Loan details