A loan of $1,000 helped to build a large Georgian thone (bakery).

Elguja's story

Elguja is 33 years old. He lives in Kobuleti with his wife, parents, and child who attends the local kindergarten. Elguja’s wife is a stylist, his mother works as a cosmetician, and his father is a builder. All of the family members earn monthly income.

Elguja earns income from a newly-started business in their local town. He has a bakery where breads are baked and sold in Kobuleti, but the existing thone (Georgian bakery) is too small and Elguja is not able to bake enough bread. He requested a loan to build a new and larger bakery.

His loan request was approved in the frame 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 and are regarded as “high risk borrowers” because of low income. After the bakery is built, Elguja will be able to bake and sell more bread. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details