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Otar is 31 years old. He lives in Kutaisi District, West Georgia with his 26 year old wife, mother, sister, retired grandmother and an infant (3 months old).

Otar requested loans from local financial institutions for his start-up business. His loan requests were rejected each time, because of his low income and his family’s poor living conditions.

Otar and his sister sell plumbing supplies. He also works at the local theater, as an operator and he receives a small monthly salary. His mother is a nurse, working at the local hospital. Family income is rarely enough to cover monthly expenses.

Otar requested loan from Credo to start-up family business. He has now been approved for a loan. Otar plans to purchase and resell a car. Otar will purchase the car at a low cost, transport it to Georgia and sell it at a higher price. This will bring him a good profit.

Part of the profit will be reinvested to purchase another car for reselling, and to provide better living conditions for his family.

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
  • $8,578,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,600 helped Otar to purchase and resell a car.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Apr 24, 2013
Apr 28, 2013
Currency Exchange Loss:
Aug 17, 2014