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Zakaria
Zakaria is 48 years old and married to his wife, Liana. They live in Tbilisi, the capital city of Georgia. Liana works as a cleaner in a shop to earn a monthly income and Zakaria is currently unemployed. The family lives in poverty. According to Credo estimates, they belong to the vulnerable poor category. Zakaria decided to start a new business as their existing income isn’t enough for the family and their living conditions are poor.

Zakaria is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program envisions providing start-up and re-startup credits with soft conditions to the rural poor, who do not have access to many credit products as they are regarded as “high risk borrowers” because of low income. Zakaria will use his loan to purchase a car and start a local taxi service. He hopes his loan will increase his family's income and enable them to improve their living conditions. Zakaria's family will also have enough income to access regular credit products available in the country’s capital market.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,807,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Zakaria to purchase a car and start a local taxi service.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2012
Listed
Nov 29, 2012
Currency Exchange Loss:
N/A
Ended:
Jun 17, 2014