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Zaza
Zaza is 37 years old from a small village in the Batumi district. He has a large family: a wife, 19-year-old son, 17-year-old daughter and his parents. Zaza requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected because of low income and the family’s poor living conditions.

Zaza’s wife is a math teacher, his mother is a chemistry teacher and his father teaches fitness at a local school. They all get a monthly income but it is hardly enough for the family. According to Credo estimations the family belongs to the subsistence poor category.

Zaza requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative between Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country’s rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Zaza will install chairs and windows in his minibus. After the chairs are installed he will be able to transport local passengers. This will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the 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

  • $4,600
    Average annual income
  • 39
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Zaza to install chairs and windows in his minibus to allow transport of passengers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 8, 2013
Listed
Mar 10, 2013
Currency Exchange Loss:
N/A
Ended:
Nov 18, 2013