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Beka is 23 years old, single and lives in a small village of Aghaiani, with his parents. Beka is an assistant of the operator at the local asphalt factory and gets a monthly income. His parents run an agricultural business and grow peaches in their garden. They also graft the plants and sell them in the capital city open market and also sell picked peaches.

Beka requested a loan from local financial institutions several times for an agricultural business start-up, but had no success. His loan request was rejected because of his low income and lack of experience in the new business. Recently, Beka requested credit from Credo. He was planning to start-up the animal husbandry business. His loan request was approved, through a new joint initiative of Kiva and Credo. The start-up loan program provides credit with soft conditions to the country's vulnerable poor, who do not have access to mainstream credit because they are regarded as “high risk borrowers,” due to low income.

With the received credit, Beka will purchase several calves. He will keep the cattle in the shed located in his yard, raise and sell them over five to six months. After selling the calves, he will purchase more of them and go through the same cycle. The new business initiative will increase the income of the family, and Beka will be able to generate profit.

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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Beka to purchase calves.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 23, 2013
Aug 25, 2013
Currency Exchange Loss:
Aug 17, 2014