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Maguli is 45 years old. She lives in the Kobuleti district with her husband and 19-year-old son. Maguli has requested a loan from local financial institutions several times in order to start a family business. However, she has not had success. Her loan request was rejected every time because of her low income and her family’s poor living conditions.

Maguli's family owns a plot of agricultural land, where mandarin and nut trees are grown. The harvested products are sold locally at the markets. Maguli’s husband is an artisan. He works on construction for private orders and earns additional income for the family.

Maguli has requested a loan from Credo to start a family business. Maguli has been approved for a loan within the framework of a new joint initiative between Kiva and Credo. The start-up loan program provides business start-up loans to rural poor people who do not have access to credit products.

These rural poor people are regarded as “high risk borrowers” because of their low income. With her loan, Maguli will purchase a mini-bus, which her husband will use to transport the local people. This will give the family an opportunity to increase their monthly income. With the increased income, Maguli will be able to provide for her son's education in the future.

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
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,200 helped Maguli to buy a mini-bus.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Apr 23, 2013
May 10, 2013
Currency Exchange Loss:
Aug 17, 2013