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Zeinab
Zeinab is 38 years old. She lives in Banoja village, Tskaltubo district, with her husband Niko and two children who are going to school. Zeinab requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

Her family has a mini-bus. Zeinab’s husband, Niko, is driving it on a bus line and earns a monthly income, which is the only source for the family.

Zeinab requested a loan from Credo to start up a family business. Zeinab has now been approved for a loan within the framework of the 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 rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With her credit, Zeinab will build a greenhouse. She will purchase all the needed materials for building it and also tomato and green seeds. After growing the products, Zeinab will have a good harvest. Harvested products will be sold locally at the markets and she will earn an additional income for her family. Increased income will help her to provide better living conditions for the family and future studying for her children.

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
  • 59
    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 $3,000 helped Zeinab to build a greenhouse.
100% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 7, 2013
Listed
May 15, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2013