A loan of $900 helped to purchase special apparatus for producing different kinds of baked goods.


Avtandil's story

Avtandil is 53 years old. He lives in a small village in Kharagauli District with his wife, son and father, who receives a retirement pension. Avtandil requested a loan from local financial institutions several times for a family business startup, but without any success. His loan request was rejected all the time because of his low income and his family’s poor living conditions.

The only source of income for the family is from a bakery, where Georgian national "Khachapuri" (cheese in bread) is made and sold. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Avtandil requested a loan from Credo to startup a family business. His loan request was approved in the frame of the new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business startup and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, Avtandil will purchase special apparatus for producing different kinds of baked goods, which will enable him to offer more assortments to his clients. This will increase the income of the family. The new business initiative, financed with the Kiva Startup loan, will significantly improve the living conditions of the family.



Loan details


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Loan details