A loan of $600 helped to open a Georgian bread bakery.

Vazha's story

Vazha is a 54-year-old man. He lives with his family in Khashuri district. His wife is 49 years old, and they have two children who are going to school. Vazha owns an apartment which he is renting out so the family has a small monthly income.

Vazha requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions. According to Credo estimations the family belongs to the subsistence poor category. His loan request was approved in the frames of 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 for rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the requested loan Vazha wants to open a Georgian bread bakery. He owns a commercial space and will buy all the needed equipment. Vazha will bake himself normal Georgian bread and also flavored sweet bread which originally comes from Khashuri district. Vazha hopes the business will be profitable, as the location is very populous. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family and Vazha will be able to provide for his children’s education in the future.

Loan details

Lenders and lending teams

Loan details