A loan of $4,500 helped to purchase a car.


Besiki's story

Besiki is 48 years old and lives in Telavi, Kakheti region, East Georgia. He has a large family: a wife, two sons (22 and 17 years old), a daughter-in-law and an infant grandchild. Besiki requested a loan from local financial institutions several times for the family business start-up, but without any success. His loan request was rejected all the time because of his low income and his family’s poor living conditions.

Besiki worked as a taxi driver and transported people from Telavi to the capital city. A storm and hail damaged his car and he has stopped working. The only source of the income for the family is his wife’s small salary from a kindergarten. It is hardly enough for food for a six-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Besiki requested a loan from Credo to re-start the family business (taxi service) that was stopped recently because of a natural calamity (storm damage). His loan request was approved in the frame of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the loan, Besiki will purchase a car. He will be able to continue working as a taxi driver and serve the local people. This business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



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Loan details