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Mamuka is from the city of Batumi. He is 31 years old, married and lives with his wife, school-age son, student sister and parents. The only one who is employed in the household is Mamuka’s father, who is a furniture manufacturer and works at a shop in return for a small monthly salary.

Mamuka started a brick factory. He has already purchased all the needed equipment for making bricks and now is requesting the loan to buy raw materials for doing this. He hopes his business will be successful, as there is high demand for construction materials on the market.

This initiative will significantly increase the family income and Mamuka will be able to improve their standard of living in the future.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    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 buy raw materials for his newly started bricks factory.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Oct 25, 2013
Nov 23, 2013
Currency Exchange Loss:
Jul 2, 2014