A loan of $2,000 helped to open a Georgian bread bakery.

Khatuna's story

Khatuna is 37 years old. She is married and lives with her husband and 18-year-old daughter, in Rustavi district. Several times, Khatuna requested a loan from local financial institutions for a family business start-up, but without any success. Her loan request was rejected each time because of low income and her family’s poor living conditions.

The only source of income for the family is a small, monthly salary earned by her husband, working as a baker. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the 'subsistence poor' category.

Khatuna requested loan from Credo to start-up a family business. Her loan request was approved in the framework of a 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 for the country's rural poor, who do not have access to credit products, being regarded as 'high risk borrowers' because of low income.

Since her husband has a rich experience in this field, she decided to start their own bakery. With the received credit, they will buy all the needed equipment to bake Georgian bread. Khatuna thinks that the business will be profitable and they will be able to 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

Lenders and lending teams

Loan details