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Omar is 24 years old, single, and lives in the Chkhorotsku district with his uncle, aunt, grandmother and two underage cousins. The family covers food and daily expenses with the retirement pension of Omar's grandmother. Omar is a very enthusiastic young man and wishes to be financially independent. He decided to start his own business with the help of a loan. Omar requested a loan from MFO Credo and the application was approved within the framework of a startup program that enables inexperienced borrowers to begin new businesses. Omar owns a commercial space, and with the loan received, he will purchase essential equipment such as a vacuum cleaner, hoses and power washers. He will provide services to local community members and hopes to generate income. The new business initiative will significantly improve the living conditions of his family and give Omar financial stability. He 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 Georgia

  • $6,100
    Average annual income
  • 45
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,225 helped Omar to purchase a vacuum cleaner, hoses and power washers for his car wash.
97% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Sep 30, 2013
Oct 14, 2013
Currency Exchange Loss:
Mar 19, 2015