A loan of $2,400 helped to renovate the store.


Zurab's story

Zurab is from the small town of Chakvi. He is 34 years old, married, and lives with his wife and two children (3 and 10 years old). Zurab and his wife are unemployed at the moment and in fact, the family has no source of income. Zurab decided to start a business. He plans to renovate the family-owned store and start up a grocery store in the future. Zurab has applied for loans from local financial institutions several times, for a business start-up, but without any success. His loan request was rejected each time because of his lack of experience in the new business, as experience is usually a requirement of local credit providers. However, his loan request was approved within the framework of a new joint initiative between Kiva and Credo. The start-up loan program provides business start-up and re-start credits with soft conditions to the country's rural poor, who do not have access to credit products, because they are regarded as “high risk borrowers” due to their low incomes. With this loan, Zurab will purchase building materials and renovate the store properly so that it satisfies the needs of his clients. He has some savings, which he has loaned out at the moment. After the amount will be returned, Zurab will purchase stocks of basic groceries and start up the business. Zurab hopes his business will be profitable and that this will increase his income, thereby providing his family with enough money to satisfy their daily needs and improve their living conditions.



Loan details


Lenders and lending teams



Loan details