A loan of $3,000 helped to rent a commercial space and open an auto parts shop.


Zhora's story

Zhora is 23 years old. He lives in Tbilisi, the capital city of Georgia, with his wife and an infant child. Zhora requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and his family’s poor living conditions.

The only source of income for the family is income earned by Zhora working as a operator at a private company. It totals 400 Laris (GEL). It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

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

With the received credit Zhora will rent a commercial space and open an auto parts shop. He will buy and sell auto parts and will have a chance to increase the income of his family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.



Loan details


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Loan details