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Besiki is 48 years old and lives in Telavi, Kakheti region, East Georgia. He has a large family: a wife, two sons (22 and 17 years old), a daughter-in-law and an infant grandchild. Besiki requested a loan from local financial institutions several times for the family business start-up, but without any success. His loan request was rejected all the time because of his low income and his family’s poor living conditions.

Besiki worked as a taxi driver and transported people from Telavi to the capital city. A storm and hail damaged his car and he has stopped working. The only source of the income for the family is his wife’s small salary from a kindergarten. It is hardly enough for food for a six-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Besiki requested a loan from Credo to re-start the family business (taxi service) that was stopped recently because of a natural calamity (storm damage). His loan request was approved in the frame of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup 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 loan, Besiki will purchase a car. He will be able to continue working as a taxi driver and serve the local people. This business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.

About Georgia

  • $6,100
    Average annual income
  • 43
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $4,500 helped Besiki to purchase a car.
Repayment Term
34 months (Additional Information)
Repayment Schedule
Nov 2, 2012
Nov 8, 2012
Currency Exchange Loss:
Dec 8, 2012