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Makvala
Makvala lives in the village of Khabume. She is 56 years old, widowed and lives with her son, daughter-in-law, two grandchildren and retired mother.

The source of income for the family is an agricultural business. They breed two milk cows, two calves and a pig. Besides, Makvala grows maize and sells the harvest at the local open market.

Makvala and her son, Badri, decided to start a new business as their existing income wasn't enough for the family. Her loan request was approved in the frame of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provisions 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, being regarded as “high risk borrowers” because of their low incomes.

With the loan, Makvala will purchase a car and Badri will serve the local people as a taxi driver. The income of the family will increase, and they will be able to improve their living conditions 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.

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About Georgia

  • $6,100
    Average annual income
  • 73
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,700 helped Makvala to purchase a car for her son to use it as a taxi.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 28, 2013
Listed
Nov 21, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2015