A loan of $3,500 helped to purchase a mini-bus to transport building materials.

Besik's story

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.

Loan details

Lenders and lending teams

Loan details