A loan of $5,000 helped to purchase all the needed equipment and furniture to open a restaurant.

Zaza's story

Zaza is 50 years old and lives in Baghdati district with his wife, Irina, two sons and a daughter. Zaza requested a loan from local financial institutions several times for a 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.

Zaza’s oldest son is working in the Ministry of Internal Affairs on a small monthly salary (400 GEL), which is the only source of living for the family.

Zaza requested a loan from Credo to start up a family business. He 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-start-up 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, Zaza will purchase all the needed equipment and furniture to open a restaurant. He has a building which is under construction now. Zaza is working very hard to make the restaurant look nice and have good food there to satisfy the clients. The restaurant is located in a very beautiful area, and Zaza hopes this will help him to attract a lot of people.

Zaza and his family members will work in the restaurant themselves and try to make the business successful. It will increase the family income, and they will be able to improve their living conditions.

Loan details

Lenders and lending teams

Loan details