A loan of $1,900 helped to open a bakery.


Nodari's story

Nodari is 32 years old. He lives in Gurjaani District with his wife and pensioner mother. Nodari requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

Nodari works as a fitter at a local cable TV company, and his mother works as a baker locally. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Nodari requested a loan from Credo to start up a family business. Nodari 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 his credit, Nodari will open a bakery. After the bakery is opened, they will be able to bake Georgian bread for selling. As his mother has a rich experience in this field, Nodari thinks that the business will be profitable. 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