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64-year-old retired Zurab lives in a small village of the Zestaponi district, Zvare with his retired wife. Zurab requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected all the time, because of low income and his family’s poor living conditions. The family's only source of income is their own pensions, which in total is 195 Lari per month. This amount is rarely enough for the family's food expenses.
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 purchase a car to drive it as a taxi. Zurab wants to increase the family income and for this, he will drive locals around to earn a small daily income. The profit will be used for covering the food expenses and for improving his family's living conditions.

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
  • 54
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Zurab to purchase a car and drive it as a taxi.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 14, 2013
Jun 22, 2013
Currency Exchange Loss:
Apr 17, 2015