A loan of $3,000 helped to renovate a garage for renting.

Olgha's story

Olgha is from the town of Mtskheta. She is 38 years old, married and lives with her husband, 18-year-old daughter and mother-in-law. Olgha’s husband works as a driver and her mother-in-law is a cook at a restaurant. Both of them get a monthly salary. As the existing income is not enough for the family, Olgha decided to start a new business. In particular, she plans to renovate her garage properly and rent it for a good price.

Olgha has requested a loan from local financial institutions several times for a business start-up, but without any success. Her loan request was rejected each time because of her lack of experience in the new business, which is usually demanded by local credit providers. However, her loan request was approved under the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides business start-up and re-startup credits with soft conditions to the country's rural poor who do not have access to credit products, for they are regarded as “high risk borrowers” because of their low income. With this loan, Olgha will purchase building materials to renovate the garage properly so that it satisfies the personal needs of her clients. Olgha hopes her business will be profitable and this will increase her income, providing her family members with enough money to satisfy their daily needs and improve their living conditions. Olgha also plans to finance the education of her daughter. She awaits your support.

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