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Besarion is 30 years old. He lives in the small village of Lagodekhi District in East Georgia. Besarion has a large family: a wife, two infant children, parents and a grandmother who is provided with a retirement pension. He requested a loan from the local financial institutions several times for his family business start-up, but without any success. His loan request was rejected each time, because of his low income and the family’s poor living conditions.

The only source of the income for the family is from the agricultural activities. In particular, they have two milk cows whose milk is used in cheese production. Besides that, Besarion has a 0.5 hectare vineyard and 27 persimmon trees. They produce wine and sell the cheese locally in an open market. It is hardly enough food for such a large family. According to Credo estimations, the family belongs to the subsistence poor category.

Besarion requested a loan from Credo to start-up his family business. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products and are regarded as “high risk borrowers” because of thei low income. With the received credit, Besarion will purchase a car. As their existing income isn’t enough for the family, and their living conditions are poor, Besarion decided to work as a taxi driver after buying the car. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.

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
  • 52
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Besarion to buy a car and work as a taxi driver.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 19, 2012
Nov 22, 2012
Currency Exchange Loss:
Apr 16, 2014