A loan of $900 helped to purchase materials to expand his pub.


Besik's story

Besik is 52 years old. He lives in Kutaisi, West Georgia with his 48-year-old wife Naira, 28-year-old son and 24-year-old daughter in-law. Besik requested a loan from local financial institutions several times for a family business start-up, without any success. His loan request was rejected because of low income and his family’s poor living conditions. Besik has rented a commercial space where he has a pub. He has been in this business for one year but the pub needs some renovation to allow for a better income. Besik requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages provisions 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, being regarded as “high risk borrowers” because of low income. With the received credit Besik will purchase more products and expand the building to have more space. With a larger space he will be able to serve more clients and it will increase his income. As summer season is coming, beer will be more in demand among the villagers so Besik envisions his business being profitable. Part of the profit he wants to save so in the future instead of renting the space he can buy it and the other part of the profit will be used for his family’s well-being.



Loan details


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Loan details