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Zaza is a 47-year-old husband and father of two who lives in Utsera village in the Oni district of Georgia. He has requested loans from local financial institutions several times for a family business start-up, but without any success. His applications were rejected because of his low income and the family’s poor living conditions.

The only source of income for the family is agricultural activities. They own a plot of land, where they grow potatoes and walnuts to sell at local markets. Their total income is so small that it is rarely enough to cover their monthly expenses.

Zaza has requested a loan from Credo to start a new family business and has now been approved 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 manageable conditions for rural poor people, who do not have access to credit products and are regarded as “high risk borrowers”. With his credit, Zaza plans to buy a milk cow that the family will milk every day and start producing dairy products. These will be sold to fellow villagers and at local markets, together with their other produce. The new business initiative, financed with the Kiva Start-up loan will significantly increase the family income and Zaza will be able to improve their living conditions and ensure a better life for them.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Zaza to purchase a milk cow.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 14, 2013
Jun 23, 2013
Currency Exchange Loss:
Jan 18, 2014