maiaMaia is 34 years old. She lives in Sachkhere District, Georgia, with her parents and brother. Maia 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.

Maia works as a nurse, looks after a child, and has a small monthly income. Her father and brother work as artisans, locally. Together, they make hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Recently, Maia requested 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 restart-up credits, with soft conditions, to rural poor people, who do not have access to credit products. They are regarded as “high risk borrowers” because of their low income.

With this credit, Maia will rent a commercial space and open a clothing shop. She will purchase clothing at wholesale prices and resell them in her shop. The new business initiative will significantly increase the monthly income of the family. With the increased income, they will be able to improve their living conditions.

In May 2013, Elon Microfinance Initiative loaned $75 to Maia to help her and her family.

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