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Besik
Besik is 47 years old. He lives in Martvili District with his wife, son, daughter-in-law and grandchild. The family runs a small dairy farm of two milk cows, whose milk is used in cheese products. The cheese is sold at the local open market.

Besides dairy farming, Besik serves the local people as a taxi driver with his own car. His wife is involved in a flower-trading business. She purchases flowers locally and sells them in the nearby district for a higher price.

All of the family members work hard, but the income is not enough for covering the everyday expenses. So, Besik decided to start up a new business. He has requested loans from his local financial institutions several times without any success. His loan requests were rejected every time because of low income and the lack of experience in the new job, which is usually demanded by local credit providers. His loan request was approved under a new joint initiative between Kiva and Credo.

The start-up loan program provides startup and re-startup credits with soft conditions for country, rural poor who do not have access to credit products since they are regarded as “high-risk borrowers” because of their low income.

With the loan, Besik will build a greenhouse. He will purchase building materials and construct it. Besik will plant different kinds of flowers, which will be sold by his wife at a good price. This will increase his income. The new business initiative, financed with the Kiva startup loan, will significantly improve the living conditions of the family. Besik awaits your support.

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

  • $4,600
    Average annual income
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,148,425
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,725 helped Besik to build a greenhouse to plant flowers that will be sold by his wife.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 21, 2012
Listed
Nov 28, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013