A loan of $1,800 helped to start a bakery.


Shota's story

Shota is 58 years old. He lives in Marneuli district with his wife and two sons. Shota works as a baker at the bakery and his wife is a nurse. Both of them earn a monthly salary. Shota 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 his own bakery, but his loan requests have always been rejected in the past because of his lack of experience, which is usually required by local credit providers. Shota 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, Shota will start his own bakery. He will bake traditional Georgian bread and sell it for a good price. He owns a commercial space and he hopes his project will be profitable as he already has the baking experience and will offer quality products to his customers. 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