A loan of $5,000 helped to open a bakery on his property.


Koba's story

Koba is 28 years old. He lives in the small village of Gardabani District with his wife and two daughters (6 and 8 years old). Several times, Koba requested loans 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.

The only source of the income for the family is a small, monthly income of Koba's. He rents a bakery, where he bakes bread for selling. The income is hardly enough for food for the family. According to Credo estimations, the family belongs to the 'subsistence poor' category.

Koba requested 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. This 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, Koba will renovate a space located in his yard and purchase all the needed equipment to start his own bakery. He would not have to pay rent and, thus, the income of the family will increase. 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