A loan of $3,000 helped to open a grocery shop.

Zhuzhuna's story

Zhuzhuna is 56 years old. She lives in a small village of Khashuri District with her husband, son and grandson. Zhuzhuna requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected all the time, because of low income and the family’s poor living conditions.

Zhuzhuna’s son works as an artisan and receives a small monthly income. This is the only source of income for their family. It is hardly enough to supply food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Zhuzhuna requested loan from Credo to start up a family business. Zhuzhuna 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 his credit Zhuzhuna will open a grocery shop. She will purchase a stock of groceries and open a shop near her house. This will increase the income of their family. 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