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Zoia is 56 years-old. She lives in the capital city of Georgia, Tbilisi with her 30 year-old daughter. Zoia has requested loans from local financial institutions several times for family business start-up, but without any success. Her loan requests have been rejected due to low income and family’s poor living conditions.

Zoia owns a bakery. She is baking pastries and her daughter is selling them. The family is working very hard to get a small monthly income.

Zoia requested a loan from Credo to start-up a family business. Zoia 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 the 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 Zoia will renovate her bakery and purchase an additional cooker. She will be able to bake a great variety of pastries to offer better choice to her clients. This will significantly increase the numbers of sales and Zoia will be able to expand her business more. 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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Zoia to renovate her bakery and purchase an additional cooker.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
May 24, 2013
May 29, 2013
Currency Exchange Loss:
Jan 18, 2015