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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.

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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Zinaida to open a Georgian bread bakery.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Apr 23, 2013
May 9, 2013
Currency Exchange Loss:
Mar 17, 2014