Funded

Total loan: $2,500
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Omar


A loan of $2,500 helped to purchase a car.


Omar's story

Omar lives in Tbilisi city. He is 47 years old, married, and lives with his wife, his 5-year-old son and his parents-in-law. David is, at the moment, unemployed. The only source of income for the family is the monthly retirement pensions of Omar’s parents-in-law. The family lives in poverty.

David decided to re-start his business as their existing income isn’t enough for the family and their living conditions are poor. He used to have a car and worked as a taxi driver, but after a car accident where Omar crashed the car, his business was stopped.

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 re-startup credits with soft conditions to the country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, David will purchase a car to serve the local people as a taxi driver. The income of the family will increase and they will be able to improve the living conditions of the family. Along with the above mentioned, the family will have enough income to access regular credit products available in the country’s capital market, in case of need.



Loan details

Loan length:

14 months
Disbursed date: December 6, 2012
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

14 months
Disbursed date: December 6, 2012
Facilitated by Field Partner: LLC Micro Finance Organization Credo