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Oleg is a 58-year-old married man with one grown daughter living with him. The family lives in their old house located in the capital city Tbilisi. Oleg and his wife are unemployed at the moment. There is a high unemployment rate in the region especially among people over 40. The only one who earns money in the household is Oleg's daughter who is a choreographer and gets a small monthly salary.

As the existing income is not enough for the family and Oleg can’t find a job, he decided to start his own business. All the financial institutions rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Oleg applied for the loan at MFO Credo. His request was approved in the framework of the Start Up program, which is a joint initiative with Kiva, permitting the vulnerable poor people to start or re-start businesses.

A loan of $3000 will help Oleg to purchase a second-hand car. He will serve the local people as a taxi driver and transport them inter-city. Oleg is very enthusiastic and a hard-working person with a great desire to provide better living conditions for his family members. This loan will be a great support for the family. Oleg is thankful to Kiva Lenders for giving him a chance to generate income.

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
  • 51
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Oleg to buy a car and start a taxi business.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 28, 2013
Nov 1, 2013
Currency Exchange Loss:
Jul 17, 2015