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Zurab is 49 years old. He lives in Khulo district with his wife, son, daughter in-law, and 3-year-old grandson.

Zurab requested loans from local financial institutions several times for a family business start-up, without any success. His loan request was rejected each time because of low income and his family’s poor living conditions.

The only source of the income for the family is from agricultural activities. They own a plot of land where different kinds of fruits and vegetables are grown. The family also owns milk cows. Zurab’s wife milks the cows every day to produce dairy products. The harvested products and dairy products are sold at the local markets.

Zurab requested a loan from Credo to start up a family business. Zurab 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 his credit, Zurab will open a café. He has a space at the local board building. He plans to do a small renovation, purchase all the needed equipment and products, and open a café. As there are a lot of people working in this building and also a lot of locals going there for civil issues, Zurab will have a good number of clients. He will earn a good profit and try to develop his business more. This 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

  • $6,100
    Average annual income
  • 55
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD
A loan of $2,450 helped Zurab to open a café.
Repayment Term
27 months (Additional Information)
Repayment Schedule
May 29, 2013
Jun 4, 2013
Currency Exchange Loss:
Jul 4, 2013