A loan of $1,225 helped to open a Georgian bread bakery.


Zinaida's story

Zinaida is 60 years old. She lives in Kurdghelauri village, Telavi district, with her 62 year-old husband, Tariel. Zinaida requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time, because of low income and the family’s poor living conditions.
Zinaida is trading clothes. She buys from Turkey at the wholesale price, brings it to her district and sells with the price mark up among her villagers. The family's additional income is Tariel’s monthly salary. He is working at the children's boarding house as a security guard.
Zinaida requested a loan from Credo to start-up a family business. Zinaida 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 her credit Zinaida will open a Georgian bread bakery. She owns a commercial place, where she already has started renovation jobs and needs the loan to finish it and purchase all the needed equipment. The bread will be sold straight from the bakery which is located at a populous area. This business will increase the family income and Zinaida will be able improve the family living conditions.



Loan details


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Loan details