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Olegi
Olegi is from the village of Itkhvisi, West Georgia. He is 53 years old and lives with his wife and school age daughter. Olegi is involved in an agricultural business and owns a vineyard. He produces wine and vodka with the harvested grapes and sells the products in his district.

Besides his agricultural activities, Olegi owns a small café and is actively involved in the fast food industry. The business is going well but it needs financial support for further development. With the received loan, Olegi will purchase an espresso machine and install it in his café. He will brew fresh coffee and attract more customers. Olegi hopes that his business initiative will generate income and improve the living standard of his family members.

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.

Tags

About Georgia

  • $4,600
    Average annual income
  • 53
    View loans »
    Georgia Loans Fundraising
  • $7,088,700
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $925 helped Olegi to purchase an espresso machine for his cafe.
90% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 26, 2013
Listed
Aug 27, 2013
Currency Exchange Loss:
Possible