A loan of $600 helped to purchase a car to use as a taxi.

Mamuka's story

Mamuka lives in the Kobuleti District. He is 45 years old, single and lives with his retired father. Mamuka is, at the moment, unemployed. The only source for the family is agricultural land, where they grow mandarins and sell seasonally. The family lives in poverty. According to Credo estimations, they belong to the vulnerable poor category.

Mamuka decided to start his business as their existing income isn’t enough for the family and their living conditions are poor. His loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restartup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Mamuka will purchase a car and serve local people as a taxi driver. The income of the family will increase and they will be able to improve the living conditions of the family. Along with the above mentioned, the family will have enough income to access regular credit products available in the country’s capital market, in case of need.

Loan details

Lenders and lending teams

Loan details