A loan of $3,000 helped to install chairs and windows in his minibus to allow transport of passengers.

Zaza's story

Zaza is 37 years old from a small village in the Batumi district. He has a large family: a wife, 19-year-old son, 17-year-old daughter and his parents. Zaza requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected because of low income and the family’s poor living conditions.

Zaza’s wife is a math teacher, his mother is a chemistry teacher and his father teaches fitness at a local school. They all get a monthly income but it is hardly enough for the family. According to Credo estimations the family belongs to the subsistence poor category.

Zaza requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative between Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country’s rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Zaza will install chairs and windows in his minibus. After the chairs are installed he will be able to transport local passengers. This will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details