A loan of $2,100 helped to purchase a car.


Zebur's story

Zebur is 27 years old. He lives in the village of Kakhaber, in the Khelvachauri district with his parents, 27-years-old brother and retired grandmother. Zebur requested loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.

All the family members work at the local hotel. Zebur works as an administrator, his brother as a barmen, mother as a cleaner and father as a manager. The hotel is very small so the salaries are very small too. Their additional income is Zebur’s grandmothers’ monthly pension. The family's total income is hardly enough to cover monthly expenses.

Zebur requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. The Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Zebur will purchase a car. The hotel where they all work doesn’t have a car to serve the clients, so he wants to buy a car and rent it to the hotel owners. This will bring him an additional monthly income. With the increased income Zebur will be able to help his family with covering their expenses.



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Loan details