A loan of $2,425 helped to open a car washing center.

Zakaria's story

Zakaria is 44 years old. He lives in Telavi District with his 43-year-old wife and two children (9 and 20 years old). Zakaria 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 the family’s poor living conditions. Zakaria is an artisan. He works on private orders on constructions and earns small monthly salary, which is rarely enough for the food for family. Family also has pigs. Pigs will be sold at the local market at a good price and Zakaria will earn additional income.

Zakaria requested a loan from Credo to start-up a family business. Zakaria has now been approved for a loan within the framework of the 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 rural poor people, who 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 Zakaria will start a car washing business. He will purchase essential equipment, and a vacuum cleaner. Zakaria will provide services to his local community members, and hopes to increase the monthly income of the family. 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