A loan of $1,350 helped to purchase a tractor.

Zakaria's story

Zakaria is 36 years old and lives in a small village of Gurjaani District with his wife Nino. Zakaria requested loans from local financial institutions several times for family business start-up but without any success. His loan requests were rejected each time because of low income and his family’s poor living conditions.

Zakaria and his wife are actively involved in agricultural activities. In particular, they have a plot of agricultural land and grow maize. They also have pigs and sell piglets locally. It is hardly enough to buy food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Zakaria requested loan from Credo to start up a family business. Zakaria 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 the received credit Zakaria will purchase a tractor. After the tractor is purchased, he will go to the forest and transport lumber for selling. 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