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Zoia is a 58-year-old married woman from the Dusheti district. She lives with her husband and son. Her son is the only person in the family who is working; he works as a guitar teacher and receives a small monthly income. In the region, there is a high unemployment rate, but self-employment helps the inhabitants to make a living. So Zoia decided to start own business with a loan, but the local credit providers usually demand experience and some stable income from their borrowers. Zoia’s credit applications were rejected several times, as she was unable to satisfy their requirements. She received credit in the framework of a joint initiative of Kiva and Credo, the Startup Program, which gives rural poor people the chance to start or re-start businesses. With the loan of $1000, she will buy a stock of groceries. She has a commercial space, where she is going to open a shop. As the stock of groceries is purchased, she will be able to work in her shop and increase the family income. The Startup credit will be a great support for the family, as their income will be significantly increased, thanks to Kiva lenders.

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
  • $8,578,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Zoia to purchase a stock of groceries and open a shop.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jun 26, 2013
Jul 27, 2013
Currency Exchange Loss:
Aug 17, 2014