A loan of $1,000 helped to renovate a flat to rent.

Mzevinar's story

Mzevinar is 40 years old. She lives with her husband and 2 children in Batumi, West Georgia. Mzevinar is a cleaner and her daughter is a waitress in hotel; they both get monthly income. Mzevinar requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time because of her low income and family’s poor living conditions. According to Credo's estimations, the family belongs to the subsistence poor category.

Because of her failure to get a traditional loan, Mzevinar requested a loan from Credo to start-up her family business. Her loan request was approved due to a new joint initiative of Kiva and Credo. This start-up loan program provides business start-up and restart-up credits with soft conditions to the country's rural poor. These borrowers do not have access to credit products, for they are regarded as “high risk borrowers” because of their low income. With her loan, Mzevinar will renovate a flat, which she has bought to rent out. Because of tourism development in Batumi, Mzevinar believes that renovating this flat will help her earn income. This new business initiative, financed with a start-up loan from Kiva, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details