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Besik
Besik is a 27-year-old married man. He lives with his wife in the capital city of Georgia. Besik and his wife are unemployed now. His relatives help them with money. In the region there is a high unemployment rate, but self-employment helps inhabitants to make living. So, he decided to start a taxi business with the loan but the local credit providers usually demand experience and some stable income from the borrowers. His credit requests were rejected several times, as he was unable to satisfy their requirements. Besik received the credit in the framework of a joint initiative of Kiva and Credo - Startup Program that gives rural poor people the chance to start or re-start businesses. With the loan of $1200, he will pay a toll for his car, which he has purchased already. He will serve local people as a taxi driver and generate income.

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.

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About Georgia

  • $4,600
    Average annual income
  • 62
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Besik to pay a toll for his car.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 23, 2013
Listed
Sep 28, 2013
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2014