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Besik is 45 years old. He is married and lives with his wife and son in the Bolnisi District. Besik is an artisan who earns a small daily income based on the orders he receives. Besik has requested a small-business loan from local financial institutions several times but he has not had success. His loan request was rejected because of his low income and his family’s poor living conditions.

According to Credo estimations, the family belongs in the subsistence poor category.

Besik has requested a loan from Credo to start a new business. His loan request was approved as a result of a new loan program that grants loans to those who are considered "high risk borrowers" due to their low incomes. This program is a new initiative of Kiva and Credo.

With the received credit, Besik will buy materials to build a shed. After building the shed, he plans to buy milk cows and start an animal-husbandry business. His wife will milk the cows and produce dairy products to sell. This will increase the income of the family. 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Besik to build a shed and buy milk cows to start an animal-husbandry business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 25, 2013
Mar 11, 2013
Currency Exchange Loss:
Sep 17, 2014