A loan of $1,050 helped to open a Georgian bread bakery.


Manuchar's story

Manuchar is 35 years old. He lives in a small village in the Terjola District with his wife and two children. Manuchar requested loans from local financial institutions several times for a family business start-up but without any success. His loan request was rejected because of low income and the family’s poor living conditions. The only source of income for the family is from agricultural activities. In particular, they have a plot of land where they grow maize and sell it locally. Their income is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category. Manuchar requested a loan from Credo to start up a family business. Manuchar has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With this loan, Manuchar will open a Georgian bread bakery. He will purchase all the needed equipment for building a bakery near his house. He hopes the business will be profitable because the location is very well populated. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of Manuchar's family.



Loan details


Lenders and lending teams



Loan details