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Mamuka is 33 years old. He lives in Skra village in Gori district with his wife Diana and two children. Both of his children attend school. Mamuka requested a loan for a family business start-up several times from local financial institutions, but without any success. His loan request was rejected all the time, because of his low income and the family’s poor living conditions.

Mamuka's family owns a small agricultural plot of land. Mamuka is harvesting it and planting vegetables. Harvested products are sold locally at the markets and the family earns a small monthly income.

Mamuka requested a loan from Credo to start a family business. His loan request was approved under a new joint initiative of Kiva and Credo. The start-up loan program provides business start-up and re-startup credit with soft conditions to the country's rural poor, which do not have access to credit products. They are often considered “high risk borrowers” because of their low income. With the credit Mamuka will purchase a mini-bus to start trading fruits and vegetables. He will buy at wholesale prices from Gori markets, bring the products to his village, and resell them with the prices marked up at the local market. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the family, and Mamuka will be able to provide a better education for his children.

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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Mamuka to purchase a mini-bus to start trading fruits and vegetables.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 14, 2013
Mar 21, 2013
Currency Exchange Loss:
May 17, 2013