Check out some available loans that are similar to this one!
Zhana is 24 years old and lives with her father, her retired grandmother, and her brother in Kutaisi. Several times she has requested loans from local financial institutions for her hair care business start-up but without any success. Her loan requests were rejected each time because of her low income and lack of experience in this new business. The only source of income for her family is the small monthly salary earned by Zhana’s father working as a mini-bus driver. Her brother studies at high school and needs a lot of money for student expenses.

Zhana has high education but she is unable to find a job with her profession and generate an income, so she requested a loan from Credo to start a beauty salon. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisions the provision of business start-up and re-start-up credits with reasonable conditions for the country's vulnerable poor who do not have access to standard credit products since they are regarded as “high-risk borrowers” because of their low income.

Zhana will purchase equipment for her beauty salon and start up a hair care business. She will hire experienced stylists, and according her estimations, the business will be profitable and will increase the income of her family. The increased profit will be reinvested in the same business. Her family will be able to increase their spending to satisfy their daily needs and improve their 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,091,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $5,000 helped Zhana to start up a beauty salon.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 13, 2013
Aug 22, 2013
Currency Exchange Loss:
Sep 21, 2013