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Omar lives in Tbilisi city. He is 47 years old, married, and lives with his wife, his 5-year-old son and his parents-in-law. David is, at the moment, unemployed. The only source of income for the family is the monthly retirement pensions of Omar’s parents-in-law. The family lives in poverty.

David decided to re-start his business as their existing income isn’t enough for the family and their living conditions are poor. He used to have a car and worked as a taxi driver, but after a car accident where Omar crashed the car, his business was stopped.

His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, David will purchase a car to serve the local people as a taxi driver. The income of the family will increase and they will be able to improve the living conditions of the family. Along with the above mentioned, the family will have enough income to access regular credit products available in the country’s capital market, in case of need.

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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,908,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Omar to purchase a car.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 6, 2012
Dec 31, 2012
Currency Exchange Loss:
Oct 17, 2013