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Makvala is a 60-year-old widow who lives in Surami with her son, daughter-in-law, grandson and retired mother-in-law. Several times, Makvala has requested loans from local financial institutions for her trading business start-up, but without any success. Her loan request was rejected each time because of her low income and the lack of experience in her new business, which is usually demanded by local credit providers. The only source of income for the family is the small monthly income earned by Makvala, who is involved in the food trading business. She buys pies from the local bakery and sells them at the railway station for a profit. According to the government's estimations, the family belongs to the vulnerable poor category and they get monthly social assistance.

Makvala requested a loan from Credo to start up her own business and sell clothing herself. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, for they are regarded as “high risk borrowers” because of low income. Makvala will purchase clothes for wholesale prices and resell them in her district for a profit. It will be hard work for Makvala, but according to estimations, her business will be profitable and will increase the income of the family. The increased profit will be reinvested in the business to increase her stock and sales volume. Makvala awaits your support.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Makvala to purchase clothing for resale.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Dec 25, 2012
Dec 28, 2012
Currency Exchange Loss:
Nov 18, 2013