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Mamuka is 38 years old. He lives in Dmanisi District, with his 37 year old wife Patima and retired mother Eter. Mamuka requested loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.

Family has three milk cows. The cows are milked every day to make cheese and sell it locally at the markets, to get a small daily income. Their additional income is Mamuka’s mother’s monthly pension.

Mamuka requested loan from Credo to start a family business. His loan request was approved by the new joint initiative of Kiva and Credo. Start-up loan program involves providing business start-up and re-startup credit, with soft conditions to country rural poor, who do not have access to credit since they are regarded as “high risk borrowers” because of low income. With the credit Mamuka will purchase a truck. He wants to start working on private orders to transport a variety of cargo. This will help him to earn additional income for the family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of their family.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,091,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Mamuka to purchase a truck.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Apr 5, 2013
Apr 10, 2013
Currency Exchange Loss:
Dec 17, 2014