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Otar lives in Kutaisi city. He is 29 years old, single, and lives with his parents and brother. The only breadwinner in the household is Otar’s brother, who is employed at a private company as a distributor. His wage is nearly $235 per month. Otar is jobless at the moment, and he wishes to start a new business for generating income.

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 restart-up credits with soft conditions, to country vulnerable poor people. These individuals do not have access to credit products, as they are regarded as 'high risk borrowers' because of their low income. With the received credit, Otar will purchase a car and serve the local people as a taxi driver. The income of the family will increase, and Otar will be able to improve the living conditions of the family in the future.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,091,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $2,600 helped Otar to buy a car and start a taxi business.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Nov 29, 2013
Dec 22, 2013
Currency Exchange Loss:
Feb 20, 2014