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Mamuka
Mamuka is 48 years old. He lives in the Kutaisi District in the Imereti Region. He is married and lives with his family: wife – Natia, 7-year-old daughter and father (90 years old). Mamuka and Natia work as teachers in a local school. Their daughter goes to school. Mamuka’s father is retired. The average monthly income for the family is 650 Laris, including the pension of Mamuka’s father.

Mamuka requested credit to restart a family-owned small poultry farm. He has all necessary equipment for the farm. He stopped the business a year ago because of lack of means for turnover. With the requested Kiva loan, Mamuka will purchase chickens and food for them. In 3 months, Mamuka will start selling the hens in a nearby town’s open market. The income of the family will significantly increase. Part of the increased income will be reinvested in the same business to expand it, and another part will be used for improving the family's living conditions.

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

  • $4,600
    Average annual income
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,155,125
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Mamuka buy chickens and feed.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 27, 2012
Listed
Feb 29, 2012
Currency Exchange Loss:
N/A
Ended:
Mar 15, 2013