A loan of $300 helped to open a bakery.


George's story

George is 21 years old, from the small village of Khashuri district. He lives with his 31-year-old brother and mother. Sadly, for a lack of economic resources and because they had to start working at a very young age, George and his brother were unable to study a professional career. They both work at a local petrol station and get a small monthly income.Their mother works as a kitchen maid at a local restaurant. As the family expenses exceed the total income, Tamaz decided to start his own business and seek credit among local financial institutions, but his attempts was unsuccessful because of his poor living conditions. The start-up program, which is a joint initiative between Kiva and Credo, enables rural poors and inexperienced people to get a loan for starting or re-starting businesses. His application was approved under the framework of this program to get a loan of $300 to open a bakery. George thinks that the business will be profitable, as it is in a great location and the only business of this kind in the area.

After the bakery is opened, the family will have a stable income which enables them to cover everyday costs as well as expand the business in future. With support of the start-up program, George will get an opportunity to be involved in his own business and tackle financial difficulties.



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Loan details