Total loan: $925


Tsilkani, Mtskheta-Mtianeti, Georgia / Agriculture

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A loan helped to build a greenhouse.

Mamuka's story

Mamuka is 47 years old. He lives in a small village of Mtskheta District with his father and son. His father is provided with a retirement pension. Mamuka requested a 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 the family’s poor living conditions. The only source of the income for the family is the monthly income of Mamuka, working as an artisan locally. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category. Mamuka requested loan from Credo to start up a family business. Mamuka has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor people, 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 build a greenhouse. He plans to purchase all the needed raw materials and build himself a greenhouse where he will sow cucumbers and tomatoes. Mamuka will sell the harvested products at local markets and increase the income of the family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.