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37 year old Mamuka lives in Rustavi district, with his wife Mzia and 20 year old son Vladimer. Mamuka requested loans from local financial institutions several times for a family start-up business, but without any success. His loan request was rejected every time, because of low income and family’s poor living conditions.

Mamuka is an instructor. He has a car and he gives private driving lessons to people who want a drivers license. Mamuka earns a small monthly income, which is the only source of living for the family.

Mamuka requested a loan from Credo to start a family business. He has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program involves providing business start-up and re-startup credits with soft conditions, to the rural poor, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With his credit, Mamuka will install the gas system in his car to drive it as taxi. As gas is much cheaper then petrol, Mamuka will significantly decrease the expenses and increase his profit. He will drive long hours to earn good income for his family. Mamuka wants to save money to provide a proper education for his son Vladimer.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Mamuka to install the gas system in his car to drive it as taxi.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 1, 2013
Jun 14, 2013
Currency Exchange Loss:
Feb 17, 2014