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Maguli is from Akhmeta District, East Georgia. She is 48 years old, unmarried, and lives with her mother and two nieces (12 and 14 years old). The children go to school. Her sister lives and works abroad to assist the family financially, and Maguli takes care of her pensioner mother and nieces. She has requested loans from local financial institutions several times for buying a business, but without any success. Her loan requests were rejected every time because of her low income and the family’s poor living conditions.

The only source of income for the family is a milk cow. Maguli produces yogurt and sells it in the village. Also the family gets a small amount of financial assistance from Maguli’s sister. The total average monthly income of the family doesn’t exceed 400 Laris. It is hardly enough for food for a four-member family. According to Credo estimations, Maguli’s family belongs to the vulnerable poor category.

Maguli requested a loan from Credo to start a small business. Her loan request was approved via the new joint initiative between Kiva and Credo. The start-up loan program includes business start-up and re-startup loans with conditions appropriate for the country's rural poor, who do not have access to credit products, being regarded as “high-risk borrowers” because of their low income.

Maguli already has constructed a building for the grocery store in front of the family home. With the loan, she will purchase inventories for the store and meet her first customers. Maguli will work as a salesperson herself. She will sell a variety of grocery products, including dairy products from their cow. She is sure that the store will function profitably, as there are no similar stores nearby. The new business initiative, financed with a Kiva start-up loan, will significantly increase the income of the family. The family members will be able to increase their spending to satisfy daily needs, in order to improve their 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,091,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Maguli to purchase inventory for her grocery store.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 14, 2012
Jun 20, 2012
Currency Exchange Loss:
Jul 17, 2013