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Tamar is 62 years old and lives in the littoral town of Kobuleti. She is unmarried, retired and lives with her sister. Tamar owns commercial space and a flat in Kobuleti and rents them. The rent is source of income for Tamar and her sister.

Tamar wants to supplement her family's income by renovating her second house so she can rent it out seasonally. Summertime is the high season in Kobuleti and several people have already expressed an interest in living there, but she has been unable to get a loan from several local financial institutions to pay for renovations. That is why she is requesting a loan from Kiva and Credo, which help people who do not qualify for conventional loans. She will use the loan to buy the materials she needs to renovate her house. Tamar hopes that renting out the rooms will be profitable and increase her income so that she and her sister can improve their standard of living.

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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Tamar to renovate the house so that it can be rented out.
100% repaid
Repayment Term
4 months (Additional Information)
Repayment Schedule
Jul 1, 2013
Jul 29, 2013
Currency Exchange Loss:
Oct 17, 2013