A loan of $2,000 helped to purchase a car and also renovate the bakery.


Nona's story

Nona is 49 years old. She lives in Batumi district with her husband and son. Nona requested loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and family’s poor living conditions. The only source of the income for the family is from the Georgian bread bakery. They are baking the bread and sell it from the bakery to earn small daily income, which is rarely enough to cover their monthly expenses. Nona requested loan from Credo to start-up family business. Nona has now been approved for a loan within the framework of the 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 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 her credit Nona will purchase a car and also renovate the bakery. With the new car Nona will start distributing the bread at the local shops and increase the sales quantity. As the bakery is already well known for the local people Nona will have good numbers of shops to distribute the bread. It will significantly expand her business and increase the profit. The new business initiative, financed with the Kiva Start-up loan will help Nona to provide better living conditions of the family.



Loan details


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Loan details