A loan of $2,425 helped to purchase calves to raise, to start a husbandry business.

Zaza's story

Zaza is 41 years old. He lives in a small village in the Telavi District with his wife, 20-year-old son and mother. He has previously requested loans 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 is working as an electric welder. His wife works as a kindergarten teacher locally. In addition, the family is involved in agricultural activities. They have a vineyard and 300 peach trees. They sell the harvested products locally. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Zaza has requested a loan from Credo to start-up a family business. His loan request was approved within the frameswork of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the credit received, Zaza will purchase calves to raise, and will expand the livestock in future. The family will have an additional source of income and they will be able to improve their living conditions in the future. 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