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Oleg
Oleg is a 41-year-old married man. He lives with his wife and two sons in the Akhaltsikhe district. His son works on renovation and earns a small monthly income. Oleg has been involved in the taxi business for 18 years. He is very experienced in this field. Oleg needs to purchase a bigger car (his existing one has only two doors) to serve his clients as a taxi driver. The Start-Up program, which is a joint initiative with Kiva and Credo, enables him to get a loan of $2,500 to purchase a car with four doors. His clients will complain less when he has a bigger car.

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.

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About Georgia

  • $4,600
    Average annual income
  • 46
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $2,500 helped Oleg to purchase a car for his taxi business.
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 26, 2013
Listed
Oct 2, 2013
Currency Exchange Loss:
N/A
Expired:
Nov 1, 2013