A loan of $4,000 helped to open a shop selling plumbing supplies.


Beka's story

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.



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