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Zakaria is from the Akhmeta District of East Georgia. He lives with his family in his village house: his wife Manana, a 19-year-old son, and a 12-year-old daughter. Zakaria requested loans from local financial institutions several times, but without any success. His loan request was rejected every time, because of his low income and the family's poor living conditions.

Zakaria is an agricultural worker in the village and earns on average 100 Laris per month. His wife works as a nanny in the local kindergarten. The total average monthly income of the family is 350 Laris. According to Credo estimations the family belongs to the subsistence poor category.

Zakaria requested an agricultural loan from Credo for starting a small-scale agricultural business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor, who do not have access to credit products, and who are regarded as "high risk borrowers" because of low income.

With the loan Zakaria will purchase calves. He will grow them and after a year, when the cows start giving milk, he will start producing traditional Georgian cheese. Zakaria and Manana will sell the cheese on the local open market. They have experience in running a dairy farm, as they used to run one, but five years ago the family stopped the business, and sold the cows, as they urgently needed money.

The purchased calves will be placed in the old cattle-shed, located in their yard. They will move the grass and prepare hay for feeding the calves in the winter months. As a result of the new business initiative, implemented through the Kiva loan the family's income will increase and they will be able to 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
  • 46
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Zakaria to purchase calves for the start-up of a dairy farm.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 6, 2012
Jun 14, 2012
Currency Exchange Loss:
Jul 17, 2013