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Beglar is 34 years old. He lives in Tskaltubo district with wife Maya and three children (15, 12 and 3 years old). His elder children go to school. Maya is a housewife. Beglar requested a loan from local financial institutions several times to re-start his agricultural business, but without any success. His loan request was rejected all the time, because of his low income and the family’s poor living conditions.

The family has a milk cow, dairy products of which are mainly consumed by the family members. Beglar grows greens on a family-owned plot of land. Harvested greens are sold locally. The average monthly income of the family is 250 Laris. It is hardly enough for food for a five member family. According to Credo estimations the family belongs to the subsistence poor category.

Beglar requested a loan from Credo to re-start-up a greenhouse of vegetables; Beglar used to have a greenhouse, but it was old and was destroyed. His loan request was approved in the framework of new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up 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 Beglar will purchase materials to construct a greenhouse. He will construct it and grow cucumbers, tomatoes and greens during whole year. It will positively impact the income of the family which will increase and will no longer be seasonal as the greenhouse will function all year round.

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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Beglar to purchase materials to construct a greenhouse.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Aug 10, 2012
Aug 30, 2012
Currency Exchange Loss:
Apr 17, 2013