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Beka is 22 years old. He lives in the capital city of Georgia, Tbilisi, with his 22-year-old wife, his children and his mother. The two children are ages six months and four years. Beka 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 the family’s poor living conditions.

The only source of income for the family is the monthly pension of Beka’s wife. She has health problems and is getting social help from government institutions.

Recently, Beka requested a loan from Credo, to start up a family business. Beka has now been approved for a loan, within the framework of the new joint initiative of Kiva and Credo. The Start-up Loan program envisages provision of business start-up and restart-up credits, with soft conditions, to rural poor people who do not have access to other credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit, Beka will open a plumbing shop. He already has a commercial space where he plans to open the shop. Beka will purchase plumbing materials at low cost and sell them, with a price markup, from his shop. He is planning to work as the seller himself, in order to decrease expenses. Beka is a very hard-working man, and he will try his best to make a good profit from his business. He wants to look after his family better and provide them with everything they need for living.

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
  • 48
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Beka to open a shop selling plumbing supplies.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Apr 30, 2013
May 11, 2013
Currency Exchange Loss:
Oct 17, 2014