A loan of $2,100 helped to rent a place and purchase all the needed equipment for a new business, painting cars.

Zaza's story

Zaza is 23 years old. He lives in Batumi, in western Georgia, with his retired father, his brother Revaz and sister-in-law Irma, and a nephew who is going to school. Zaza requested a loan from local financial institutions, several times, for a family business start-up, but without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

Zaza’s brother is working at a fuel station as an operator, and his sister-in-law works as a cashier at the local beer factory. They each get a small monthly income, but together they do not earn enough to feed the family and cover monthly expenses.

Recently, Zaza requested a loan from Credo to start up a family business. His loan request was approved, in the frame of a new joint initiative of Kiva and Credo. The initiative envisages provision of business start-up and restart-up credit, with soft conditions, to rural poor people who do not have access to ordinary credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Zaza wants to open a car painting shop. He will rent a place and purchase all the needed equipment to paint cars. Zaza is a very hard-working man, and he wants to help his brother and sister-in-law in covering monthly living expenses of the family. He will work hard and earn a good profit. Part of the profit he will reinvest in the same business, for future expansion, and another part he will use currently, for the family's well-being

Loan details

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Loan details