A loan of $1,225 helped to purchase flour for re-starting the bakery.


Avtandil's story

Avtandil is 50 years old. He lives in a small village of the Samtredia District with his family; wife, Marina and a 21-years-old daughter who is a student. Marina works as a sales lady at a local store. She gets monthly salary in the amount of 200 Laris per month. The family also sells a small harvest of nuts every year. The total average monthly income of the family is 250 Laris. According to Credo estimations, they are in the subsistence poor category.

With the requested credit Avtandil will re-start the functioning of a family owned bread bakery. A year ago Avtandil stopped the business, because he didn’t have any funds for financing the bakery’s ongoing costs. His loan request was approved based on a new joint initiative of Kiva and Credo. The start-up loan program credits businesses in areas with soft financial conditions, such as the rural poor, who do not have access to credit products as they are regarded as “high risk borrowers” because of low income.

With the received credit Avtandil will purchase flour and wood. He will produce traditional Georgian bread and sell it in the village. The income of the family will increase by 300 – 400 Laris, which will mean 120 – 160% increase. The living conditions of the family will significantly improve and the family will have enough income to access regular credit products available in the country’s capital market.



Loan details


Lenders and lending teams



Loan details