A loan of $1,000 helped to open a bakery and bake Georgian bread.


Kakhaber's story

Kakhaber is 34 years old. He is married and lives with his wife and two children who go to school in Tbilisi, the capital city of Georgia. Several times, Kakhaber requested a loan from local financial institutions for a family business start-up, but without any success. His loan request was rejected each time because of low income and his family’s poor living conditions. Kakhaber works as a builder at private company and gets a small income, which is not stable. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the 'subsistence poor' category. Kakhaber requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits, with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as 'high risk borrowers' because of low income. With the received credit, Kakhaber will open a Georgian bread bakery and start his own business. He will bake bread to sell at a good price. This will increase the income of the family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details


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Loan details