A loan of $2,700 helped to open a car service centre.


Besik's story

Besik is 38 years old. He lives in Chokhatauri district with his 32 year-old wife, his retired parents, and two children who are going to school. 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 all the time, because of low income and family’s poor living conditions.
Besik has a mini-bus. He works on the village bus line and transports local people. His monthly income is very small and not enough to feed the family.
Besik requested a loan from Credo to start-up a family business. His loan request was approved in the frame of a new joint initiative of Kiva and Credo. Start-up loan programs envisage the provision of business start-up and re-startup credits with soft conditions to country rural poor. These people do not have access to credit products since they are regarded as “high risk borrowers” because of low income. With the received credit, Besik wants to open a car service center. He will purchase all the needed equipment and will do the work himself, as he is very experienced in this field. He is also well known among his villagers and will have a good number of clients. This will give him a good profit. He will reinvest part of the profit to develop his business, and another part will be used for covering family monthly expenses. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.



Loan details


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Loan details