A loan of $1,000 helped to purchase flour and wood for starting a bakery.


Kartlosi's story

Kartlosi is 43 years old. He lives in the village of Kartubani, with his son, who is a university student. Kartlosi works at the City Council and gets a monthly salary. The income from this job is hardly enough to cover food and everyday expenses for the family. He has requested a loan from local financial institutions several times for a family business start-up, but he hasn't had any success. He wants to start a bakery and a confectionery, but his loan request has always been rejected in the past because of his low income and his lack of experience, which is usually required by local credit providers.

Kartlosi 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 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 his credit, Kartlosi will purchase flour and wood for baking bread and different kinds of cookies. This will increase his sales volume. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of his family.



Loan details


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Loan details