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Makvala is 48 years old. She lives in the Kobuleti district with her husband and three children. Makvala is a tailor and gets a monthly income. As the existing income isn’t enough for five-member family Makvala decided to start a trading business. She has requested a loan from local credit providers to start a business, but her loan requests were always rejected because of lack of experience in a new business.

Her loan request was approved under the guidelines of the new joint initiative between Kiva and Credo. The start-up loan program provides loans for business start-up and re-start up to the country's rural poor, who do not have access to credit. They are often regarded as “high risk borrowers” because of their low income.

With the credit Makvala will purchase clothing and gifts and set up a store. She hopes that her project will be profitable as there is not a similar store nearby. Makvala will gradually increase the sales volume and turnover. The living conditions of her family will significantly improve and they will have enough income to access regular credit products available on the country’s capital market, in case of need.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,600 helped Makvala to purchase clothing and gifts for resale.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Nov 30, 2012
Dec 11, 2012
Currency Exchange Loss:
Aug 17, 2013