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Olgha is from the town of Mtskheta. She is 38 years old, married and lives with her husband, 18-year-old daughter and mother-in-law. Olgha’s husband works as a driver and her mother-in-law is a cook at a restaurant. Both of them get a monthly salary. As the existing income is not enough for the family, Olgha decided to start a new business. In particular, she plans to renovate her garage properly and rent it for a good price.

Olgha has requested a loan from local financial institutions several times for a business start-up, but without any success. Her loan request was rejected each time because of her lack of experience in the new business, which is usually demanded by local credit providers. However, her loan request was approved under the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides business start-up and re-startup credits with soft conditions to the country's rural poor who do not have access to credit products, for they are regarded as “high risk borrowers” because of their low income. With this loan, Olgha will purchase building materials to renovate the garage properly so that it satisfies the personal needs of her clients. Olgha hopes her business will be profitable and this will increase her income, providing her family members with enough money to satisfy their daily needs and improve their living conditions. Olgha also plans to finance the education of her daughter. She awaits your support.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Georgia

  • $6,100
    Average annual income
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,896,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Olgha to renovate a garage for renting.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Nov 30, 2012
Dec 10, 2012
Currency Exchange Loss:
Aug 17, 2013