A loan of $5,000 helped to purchase a minibus and work in transportation.


Mamia's story

Mamia is 43 years old. He lives in a small village of Kobuleti District with his wife, daughter, and sister, who is provided with a retirement pension. Mamia 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 low income and the family’s poor living conditions.

The only source of income for the family is their agricultural business. In particular, they have a two-hectare piece of agricultural land, where different kinds of fruits and vegetables are grown. Besides the land, they have a milking cow, whose milk is used in cheese products. It is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Recently, Mamia requested a loan from Credo to start up a family business. His loan request was approved, in the frame of a new joint initiative of Kiva and Credo. The Start-up loan program envisages provision of business start-up and restart-up credits, with soft conditions, to rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit Mamia will purchase a minibus. After purchasing a minibus, he will get orders to transport different kinds of things 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.



Loan details


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Loan details