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Besik
Besik is 34 years old and lives in a suburb of the capital city, Tbilisi, with his wife. Besik owns a car and serves the locals as a taxi driver to earn a living.

He requested a loan to change his car’s fuel system from petrol to gas, which is cheaper than petrol. This will reduce the cost of transportation by 40 to 45 percent. It will allow Besik to decrease the price of the service, which will attract many customers. Increasing the number of customers and cutting his costs will positively affect his profit. He will pay a local auto service center to change the fuel system. The increased income will be used for his family's wellbeing.

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
  • 78
    View loans »
    Georgia Loans Fundraising
  • $7,193,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $550 helped Besik to pay for a fuel system change for his taxi.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 5, 2013
Listed
Oct 7, 2013
Currency Exchange Loss:
N/A
Ended:
Oct 17, 2014