A loan of $1,225 helped to purchase a used car and two calves.


Zurab's story

Zurab is a 30-year-old married man. He lives with his wife Khatuna in a small village of Sighnaghi district. Zurab 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.

The only source of income for the family is from their agricultural activities. In particular, they have two pigs and rabbits. In addition, they have a vineyard and produce wine seasonally. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Zurab 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 the 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 Zurab will purchase a used car and two calves. As the calves are raised, he will be able to resell them at a higher price. Zurab will drive a car in the vineyard. When the car is purchased, he will be able to work more easily. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions of the family.



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Loan details