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Zakhir is 38 years old. He lives in Marneuli District with his 30-year-old wife, retired parents, and two children (10 and 6 years old). Zakhir requested a loan from the local financial institutions several times, for a family business start-up, without success. His loan request was always rejected because of low income and the family’s poor living conditions. The only source of income for the family is the monthly pension of Zakhir’s parents. Their income is so small that it’s hardly enough for food.

Zakhir has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credit with soft conditions to the rural poor, as they do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit, Zakhir will purchase fruits and vegetables. He will rent a small counter at the local market and purchase products from the villages at the wholesale price. He will sell from his counter at a higher price and earn a good profit. Part of the profit will be used to purchase inventory in order to expand the business. Additional profit will be used to cover the family’s living expenses. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.

About Georgia

  • $6,100
    Average annual income
  • 35
    View loans »
    Georgia Loans Fundraising
  • $8,323,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Zakhir to buy fruits and vegetables to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 22, 2013
Apr 27, 2013
Currency Exchange Loss:
Sep 17, 2013