A loan of $650 helped to open a bakery.


Marina's story

Marina is 43 years old. She lives in Tbilisi with her husband Akaki and her 20 years-old student son. Marina requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan requests were denied because of low family income and the family’s poor living conditions.

Akaki works as an artisan for a private building company and gets small monthly income, which is the only source of income for the family. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Marina requested loan a from Credo for a start-up family business. Marina has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program provides fund for business start-ups 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 the received credit, Marina will open a bakery. She needs to buy the raw materials for baking Georgian bread. She has no experience in this field yet, but she will do her best to make her business profitable. Part of the income will be reinvested in the business. With another part she will pay her son’s educational expenses. 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