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Besik is 41 years old. He lives in Sachkhere District with his wife, retired mother and two children who are going to school. Besik requested a loan from local financial institutions several times for his family business start-up but without any success. His loan request was rejected each time because of low income and the family’s poor living conditions.

Besik is working as a builder on private orders. His family has one milk cow, and Besik’s wife is milking it everyday to make cheese. They sell it locally at the market and get a very small monthly income. According to Credo estimations, the family belongs within the subsistence poor category.

Besik requested a loan from Credo to start-up his family business. His loan request was approved in the frames of 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 the country's rural poor which do not have access to credit products as they are regarded as “high risk borrowers” because of their low income. With the received credit, Besik will purchase a mini-bus to transport building materials. He will work on transportation and earn additional monthly income. The new business initiative, financed with the Kiva start-up loan, will help him to develop his business which 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
  • 46
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,500 helped Besik to purchase a mini-bus to transport building materials.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Feb 20, 2013
Mar 3, 2013
Currency Exchange Loss:
Feb 17, 2014