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Besik is 28 years old and lives in the Gori District with his wife and 3 children. Besik requested a loan from the local financial institutions several times, for a start-up business, without any success. His loan requests were rejected because of low income and the family’s poor living conditions.

Nowadays the family has no source of income. According to Credo estimates, the family belongs to the ‘subsistence poor’ category. Besik requested a loan from Credo to start a family business. His loan request was approved as part of a joint initiative between Kiva and Credo. The start-up loan program envisages the provision of credit to country rural poor with soft conditions, as they are considered “high risk borrowers” and do not have access to credit products.

With this loan, Besik will purchase pigs to resell at a higher price in order to increase the family’s income. 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

  • $6,100
    Average annual income
  • 48
    View loans »
    Georgia Loans Fundraising
  • $8,094,625
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Besik to buy pigs to sell.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 6, 2013
Feb 8, 2013
Currency Exchange Loss:
Dec 20, 2013