A loan of $1,825 helped to open a new bakery.


Manana's story

Manana is 55 years old. She lives in a small village of Kareli District, with her husband. Manana requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time, because of low income and the family’s poor living conditions.

The only source of income for the family is their the agricultural activities. In particular, they have a milking cow, whose milk is used in cheese production. Besides, they have 0.7 hectare of agricultural land, where apple, plum and cherry trees are grown. They sell the harvested products locally. It is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Recently, Manana requested a loan from Credo to start up a family business. Her loan request was approved, in the frame of a new joint initiative of Kiva and Credo. The Start-up loan program envisages provision of business start-up and restart-up credits, with soft conditions, to rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit Manana will open a new bakery. She will install natural gas and purchase all the needed equipment and supplies for the bakery. After opening a bakery, she and her husband will work hard 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


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Loan details