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Zebur
Zebur is 27 years old. He lives in the village of Kakhaber, in the Khelvachauri district with his parents, 27-years-old brother and retired grandmother. Zebur requested loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.

All the family members work at the local hotel. Zebur works as an administrator, his brother as a barmen, mother as a cleaner and father as a manager. The hotel is very small so the salaries are very small too. Their additional income is Zebur’s grandmothers’ monthly pension. The family's total income is hardly enough to cover monthly expenses.

Zebur requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. The Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Zebur will purchase a car. The hotel where they all work doesn’t have a car to serve the clients, so he wants to buy a car and rent it to the hotel owners. This will bring him an additional monthly income. With the increased income Zebur will be able to help his family with covering their expenses.

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
  • 53
    View loans »
    Georgia Loans Fundraising
  • $7,088,700
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Zebur to purchase a car.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 1, 2013
Listed
Apr 7, 2013
Currency Exchange Loss:
N/A
Ended:
May 17, 2014