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Otar is a 55-year-old married man. He lives with his wife and two sons in the Batumi district of western Georgia. His wife teaches geography at a local public school and earns 360 GEL per month. Their sons go to school. Otar gets orders to paint houses and receives some income. As he does not have a stable income, Otar decided to request a loan and open a clothing shop. The Start Up program, which is a joint initiative with Kiva and Credo, enables him to get a loan of $ 3000 and purchase a stock of clothing. He will also rent a commercial space for the shop. Otar will go to Turkey and purchase clothing at wholesale prices. The Start Up program will be a great support for his family, providing them with additional income.

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
  • 54
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $3,000 helped Otar to open a clothing shop.
Repayment Term
15 months (Additional Information)
Repayment Schedule
Aug 23, 2013
Sep 27, 2013
Currency Exchange Loss:
Oct 27, 2013