A loan of $450 helped to purchase flour and wood for baking bread.

Sergo's story

Sergo is 51 years old. He lives in Batumi with his mother-in-law, his wife and their 15-year-old son, who goes to the local school. Sergo’s mother-in-law is a pensioner. Sergo’s economic activity is his newly-started business - a bakery where traditional Georgian bread is baked. Sergo sells the bread from the bakery.

He has requested a loan from local financial institutions several times for business expansion, but he hasn't had any success because of lack of experience in his business. Sergo 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 the 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 are regarded as “high risk borrowers” because of their low income.

With his credit, Sergo will purchase flour and wood for baking bread. He will bake more bread and sell for a good price. This will increase his sales volume. This new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of his family.

Loan details

Lenders and lending teams

Loan details