A loan of $1,300 helped to build a bakery and purchase all the equipment needed to bake bread.

Mamuka's story

Mamuka is from Oni District, West Georgia. He lives with his wife and three children. Mamuka requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of his low income and his family’s poor living conditions.

The only source of income for the family is from the agricultural activities. In particular, they have a hectare of agricultural land where different kinds of vegetables are grown. Besides, they have 2 pigs. It is hardly enough to provide food for the family. According to Credo's estimations, the family belongs to the subsistence poor category.

Mamuka requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. This start-up loan program seeks to provide business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit ,Mamuka will open a bakery. He will purchase all the equipment needed to bake bread, and building materials to build a bakery. After the bakery is built, Mamuka and his wife will bake bread and sell it locally. This will increase the income of the family. This new business initiative financed with the Kiva start-up loan will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details