A loan of $950 helped to start up a bakery.

Zaza's story

Zaza is 35 years old, and he lives in Kutaisi district with his wife, parents-in-law and four-year-old daughter. Zaza works as a baker at the local bakery, and his father-in-law is an operator at the petrol station. Both of them earn a monthly salary.

Zaza has asked for a loan from local financial institutions several times to start up a family business, 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.

Zaza has now been approved for a loan by a new joint initiative between Kiva and Credo. The start-up loan program is designed to provide business start-up and re-startup loans with soft conditions to rural poor people, who do not have access to traditional credit products. These rural poor are regarded as “high risk borrowers” because of their low income.

With his loan, Zaza plans to start his own bakery. He will bake traditional Georgian bread and sell it for a good price. He hopes his project will be profitable as he already has good baking experience, and will offer quality products to his customers. He thinks this will increase his sales volume. The new business, financed by the Kiva start-up loan, will significantly improve the living conditions of his family.

Loan details

Lenders and lending teams

Loan details