A loan of $3,800 helped to purchase a minibus to be able to transport metal equipment.


Besik's story

Besik is 31 years old. He is married and lives with his wife, his 4-year-old daughter and 8-year-old son in small village in the Zestaponi district. The only source of income for the family is from the agricultural activities. In particular, they have two pigs and sell piglets seasonally. In addition, they have a vineyard with 600 samples of wine trees. They produce wine for selling locally. There is hardly enough income to buy food for the family. According to Credo estimations, the family belongs to the subsistence poor category. Besik requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected each time, because of their low income and the family’s poor living conditions. Besik has now requested a loan from Credo to start-up a family business. His loan request was approved in the framework 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 the country's rural poor, who do not have access to credit products, and are regarded as “high risk borrowers” because of low income. With the credit received, Besik will purchase a minibus. After purchasing a minibus, Besik will be able to work for a private company, which produces metal equipment. Besik will transport the equipment with his minibus and 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.



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Loan details