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Zhana is 22 years old, divorced, and lives alone in the Chiatura district. Zhana is jobless at the moment and, in fact, without a source of income. She requested a small-sized loan to start up a beauty salon, as she used to work as a hairstylist and has experience in this field.

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 a business start-up and re-start-up credits with reasonable conditions for the country's vulnerable poor who do not have access to credit products since they are regarded as “high-risk borrowers” because of low income. Zhana wants to hire the space and purchase all the needed modern inventory for a haircare business. She will serve the customers as a stylist herself and generate daily income. According to her estimates, the business will be lucrative and the increased profit will be reinvested in the same business. Zhana will be able to increase her spending to satisfy her daily needs and improve her standard of living.

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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $175 helped Zhana to start a beauty salon.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Sep 18, 2013
Oct 9, 2013
Currency Exchange Loss:
May 24, 2014