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Mamuka is 32 years old, married, and lives in Batumi with his wife and three children. The source of the family income is the monthly salary earned by Mamuka’s wife working at a non-governmental organization. Mamuka has requested a loan from the local financial institutions for starting up a business but his loan requests have been rejected several times because he lacks experience with new business start-ups and does not qualify for a traditional loan under income requirements. Mamuka is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program provides start-up and restart-up loans with reduced requirements for the rural poor who do not have access to many credit products because they are regarded as “high-risk borrowers." Mamuka will use his loan to purchase seine and fishing tackle for starting up a fishing business. He has recently bought the hooks and plans to fish in the Black Sea. He hopes that his business will be profitable and sell many fish at the local open market. By increasing his monthly income, he hopes that the new business initiative will significantly improve the living conditions of his 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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    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 seine and fishing tackle for starting up a fishing business.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Dec 25, 2012
Jan 4, 2013
Currency Exchange Loss:
Nov 18, 2013