A loan of $5,000 helped to renovate her bakery and purchase an additional cooker.

Zoia's story

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.

Loan details

Lenders and lending teams

Loan details