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Elguja is 47 years old and from the small village of Martvili district. He lives with his brother and mother. His mother is provided with a retirement pension. Elguja is actively involved in agricultural activities. In particular, he has two milking cows and a buffalo. Besides that, he has a vineyard and a plot of agricultural land, where 200 nut trees are grown. They sell the harvested products locally.

As the existing income is not enough for the family, he decided to start his own business. All the financial institutions rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Elguja applied for credit at MFO Credo. His request was approved in the framework of Start Up program, which is a joint initiative with Kiva, permitting the rural poor to start or re-start businesses. With a loan of 4500 GEL (Georgia lari), Elguja will build a greenhouse. As soon as the greenhouse is built, he will grow mushrooms for selling.

This credit will be a great support for the family. Elguja is thankful to Kiva lenders for giving him a chance to generate 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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,725 helped Elguja to build a greenhouse and grow mushrooms.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 4, 2013
Jul 28, 2013
Currency Exchange Loss:
Jun 22, 2014