A loan of $1,825 helped to purchase piglets.

Bessik's story

Besik is 41 years old. He lives in the Telavi District with his wife Larisa and his mother, who is a pensioner. Besik requested a loan from local financial institutions several times for an agricultural start-up business, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

Besik is an agricultural worker. He helps local farmers in their farms and gets a service fee for the work. The family also has a milking cow; the dairy products are partially consumed by the family and the other part is sold in the village. The average monthly income of the family is 250 Laris. This is hardly enough for food for a three member family. According to Credo estimations, the family belongs to the “subsistence poor” category.

Besik requested a loan from Credo to start-up a pig farm. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages to provide business start-up and restart-up credits with soft conditions to country rural poor who do not have access to credit products, being regarded as “high-risk borrowers” because of low income. With the credit received, Besik will purchase piglets. He will place them in an old, empty farm building located in their yard. Besik will raise the piglets and sell them after several months with a price mark-up. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Their income will double and the family members will be able to improve their living conditions.

Loan details

Lenders and lending teams

Loan details