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Zaza is 39 years old. He lives in a small village in Telavi District, East Georgia. This region is known for its well-developed agriculture. Zaza lives with his family: wife Khatuna, parents (retired) and two children (5 and 1.5 years old).

Zaza is the only income provider in the family. He is a worker in a local factory. The family also has a small vineyard. Zaza produces wine and sells it in the village. The family's average monthly income is 400 GEL, which includes the pensions of Zaza’s parents. According to Credo estimations, the family belongs in the subsistence poor category.

Zaza requested credit to start an agricultural business. He will purchase calves and raise them for five months. After this period Zaza will sell grown calves and earn a profit. His loan request was approved through a new joint initiative of Kiva and Credo. The start-up loan program provides credit to start-up and re-startup businesses with fewer restrictions. This program is designed for the country's rural poor, who are considered “high risk borrowers” because of low income. With the credit Zaza will start the business, which will provide additional income to the family. Calves will be placed in an old cattle shed located in Zaza’s yard. The average monthly income of the family will increase by 200 GEL, which will mean a 50% increase. The living conditions of the family will significantly improve and the family will have enough income to access regular credit products available on the country’s capital market, in case of need.

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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,450 helped Zaza to purchase calves.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Apr 12, 2012
Apr 24, 2012
Currency Exchange Loss:
Nov 15, 2012