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From the village of Velistsikhe, 56-year-old Makvala lives with her pensioner husband; both cultivate a family-owned vineyard and sell their harvested grapes at a local market.

Because this income is seasonal and limited, Makvala requested a loan and was approved under the joint initiative between Kiva and Credo, the start-up program which gives people a chance to start or re-start businesses. With the requested money she plans to build a traditional Georgian bakery in her home territory, baking and selling bread in her village.

Makvala and her husband will bake the breads themselves and will generate a stable income for their welfare. They rely on the good will of lenders and will highly appreciate Kiva lenders' help.

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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • 1.8
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Makvala to build a traditional Georgian bakery.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Jun 16, 2014
Jul 18, 2014
Currency Exchange Loss:
Sep 17, 2015