A loan of $1,100 helped to start a bakery and confectionery.

Tsitsino's story

Tsitsino is 35 years old. She lives in the Marneuli district with her husband and six children. Tsitsino’s husband is a cook and is the only one who makes money in the household. The family lives below the poverty line and gets a small amount of monthly social assistance from the government. The existing income is not enough to cover the everyday costs of such a large family.

Tsitsino is unemployed at the moment. She has requested a loan from local financial institutions several times for a family business start-up, but she hasn't had any success. She wants to start a bakery and a confectionery, but her loan request has always been rejected in the past because of her lack of experience, which is usually required by local credit providers.

Tsitsino 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 reasonable conditions to vulnerable poor people, who do not have access to regular credit products. These vulnerable poor people are regarded as “high risk borrowers” because of their low incomes. With her credit, Tsitsino will start her own confectionery shop. She has already rented a store with all of the necessary equipment, and she needs money to purchase raw materials for baking cookies and cakes. This new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of her family.

Loan details

Lenders and lending teams

Loan details