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Mamuka
Mamuka is a 26-year-old man. He lives in Batumi with his mother, step-father and sister. The main source of income for the family is from a car wash business. Mamuka runs the car wash and earns 400 GEL per month.

He decided to expand his business and add a carpet cleaning service to it. He needs to purchase equipment and he requested a loan for this. The Start-Up program, which is a joint initiative with Kiva and Credo, gives him a chance to purchase the needed equipment for $ 900.

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
  • 78
    View loans »
    Georgia Loans Fundraising
  • $7,193,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $900 helped Mamuka to expand his car wash business and add a carpet cleaning service.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 26, 2013
Listed
Sep 30, 2013
Currency Exchange Loss:
N/A
Ended:
Oct 17, 2014