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Zaza
Zaza is 41 years old. He lives in a small village in the Telavi District with his wife, 20-year-old son and mother. He has previously requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

Zaza is working as an electric welder. His wife works as a kindergarten teacher locally. In addition, the family is involved in agricultural activities. They have a vineyard and 300 peach trees. They sell the harvested products locally. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Zaza has requested a loan from Credo to start-up a family business. His loan request was approved within the frameswork of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the credit received, Zaza will purchase calves to raise, and will expand the livestock in future. The family will have an additional source of income and they will be able to improve their living conditions in the future. 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
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,155,125
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Zaza to purchase calves to raise, to start a husbandry business.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 10, 2013
Listed
Apr 12, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 18, 2013