A loan of $1,900 helped to purchase all the needed equipment for opening a bread bakery.


Akaki's story

Akaki is 35 years old. He lives in Gori District with his wife, Manana, and two children, who are going to school. Akaki 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 his low income and the family’s poor living conditions.

The only source of income for the family is Akaki’s small monthly salary. He is working in a bread bakery as a baker.

Akaki requested a loan from Credo to start up a family business. His 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 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, Akaki wants to open his own bread bakery. He will rent a place and purchase all the needed equipment. As he is already working in this business and has great experience, Akaki hopes it will be profitable. 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