Total loan: $3,000


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Ninotsminda, Samtskhe-Javakheti, Georgia / Agriculture

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A loan helped To purchase pigs and flour for his bakery.

Bagrat's story

Bagrat is 24 years old. He lives in Ninotsminda District with his father and his wife. Bagrat has requested a loan from local financial institutions several times for agricultural business start-up, but without any success. His loan request was always rejected, because of low income and the lack of experience in his new business, which is usually demanded by local credit providers. Bagrat has a bakery locally and bakes bread which is sold at the local market. He has requested credit for the start-up of an agricultural business. His loan request was approved under a 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 the country's rural poor, who do not have access to credit products, as they are regarded as “high risk borrowers” because of their low income. With the received credit, Bagrat will purchase pigs. He will place them in an old empty farm building located in their yard. He will work hard on the farm to raise them and sell them for a higher price. Another part of the credit will be used for purchasing flour. Bagrat will bake more bread and increase the sales volume. That will significantly increase the income of the family, and Bagrat will be able to provide better living conditions for his wife and father.