A loan of $2,125 helped to start a bakery.

Vasil's story

Vasil is 53 years old. He lives in Sagarejo, with his retired mother, grown daughter and son. His children are unemployed at the moment and his spouse works abroad to financially help her family.

Vasil is involved in a trading business and sells household items from a stall located at the open market. The income from this activity is hardly enough to cover only food and everyday expenses for four people. Because the income is not enough for the family, Vasil decided to start a new business with the requested loan. His loan request was approved in the frame 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 vulnerable poor people, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Vasil will start a bakery. He will renovate commercial space and purchase all the needed equipment for baking. Vasil will sell bread, pies and various baked dishes and the new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details