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Elguja is a 66-year-old married man. He lives in a small village of Khashuri District with his wife. Elguja works hard on family-owned agricultural land, growing maize and haricot. He always has high quality products which are sold to local retailers for a good price.

As the family has only seasonal income, Elguja decided to start dairy farming and seek for credit among local financial institutions. However, his attempts were unsuccessful because of his poor living conditions. The startup loan program, a joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get a loan for starting or re-starting businesses. Elguja's application was approved under the framework of this program to get a loan of 15,00 GEL. With the received credit, he will purchase a milking cow. His wife will milk the cow to produce dairy products. They will sell dairy products at local markets. The new business initiative will give them chance to have financial stability and a monthly income.

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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,901,050
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Elguja to purchase a milking cow.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Aug 31, 2013
Sep 15, 2013
Currency Exchange Loss:
Apr 17, 2015