A loan of $5,000 helped to start up a beauty salon.


Zhana's story

Zhana is 24 years old and lives with her father, her retired grandmother, and her brother in Kutaisi. Several times she has requested loans from local financial institutions for her hair care business start-up but without any success. Her loan requests were rejected each time because of her low income and lack of experience in this new business. The only source of income for her family is the small monthly salary earned by Zhana’s father working as a mini-bus driver. Her brother studies at high school and needs a lot of money for student expenses. Zhana has high education but she is unable to find a job with her profession and generate an income, so she requested a loan from Credo to start a beauty salon. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisions the provision of business start-up and re-start-up credits with reasonable conditions for the country's vulnerable poor who do not have access to standard credit products since they are regarded as “high-risk borrowers” because of their low income. Zhana will purchase equipment for her beauty salon and start up a hair care business. She will hire experienced stylists, and according her estimations, the business will be profitable and will increase the income of her family. The increased profit will be reinvested in the same business. Her family will be able to increase their spending to satisfy their daily needs and improve their living conditions.



Loan details


Lenders and lending teams



Loan details