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Bejan
Bejan is 27 years old. He lives in Baghdati District with wife, mother, brother, sister and an infant daughter. Bejan requested loans from local financial institutions several times for a family business start-up, but he had no success. His loan request was rejected every time because of his low income and the family’s poor living conditions.

The source of the income for the family is from agricultural activities. In particular, they have a milk cow, 2 buffalos and a hectare of agricultural land, where maize is grown. Besides, Bejan owns a vineyard, where 700 wine trees are grown. It is hardly enough to pay for food for the family. According to Credo's estimations, the family belongs to the subsistence poor category.

Bejan requested loan from Credo to start up a family business. His loan request was approved in the frame of new joint initiative of Kiva and Credo. This start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, Bejan will purchase building materials. After purchasing building materials, he plans to build a greenhouse. He will sow cucumbers there and sell them locally at a good price. This will increase the income of the family. The new 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

  • $4,600
    Average annual income
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Bejan to purchase building materials and build a greenhouse.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 23, 2013
Listed
Jan 28, 2013
Currency Exchange Loss:
N/A
Ended:
Mar 17, 2014