A loan of $1,000 helped to install the gas system in his car to drive it as taxi.

Mamuka's story

37 year old Mamuka lives in Rustavi district, with his wife Mzia and 20 year old son Vladimer. Mamuka requested loans from local financial institutions several times for a family start-up business, but without any success. His loan request was rejected every time, because of low income and family’s poor living conditions.

Mamuka is an instructor. He has a car and he gives private driving lessons to people who want a drivers license. Mamuka earns a small monthly income, which is the only source of living for the family.

Mamuka requested a loan from Credo to start a family business. He has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program involves providing business start-up and re-startup credits with soft conditions, to the rural poor, 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 install the gas system in his car to drive it as taxi. As gas is much cheaper then petrol, Mamuka will significantly decrease the expenses and increase his profit. He will drive long hours to earn good income for his family. Mamuka wants to save money to provide a proper education for his son Vladimer.

Loan details

Lenders and lending teams

Loan details