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25-year-old Beka lives in Tskhramukha village, Khashuri district with his wife, retired mother-in-law and two children (1 and 5 years old). Beka requested loans 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 main source of income for the family is from agricultural activities. In particular, they have a milk cow, which is milked every day to produce cheese. Also they own a plot of land, where haricot and maize are grown. Beka is a very hardworking man and he is trying his best to ensure a proper life for his family. He harvests the products and sells them together with dairy products at the local markets. Their additional income is Beka’s mother-in-law's monthly pension. Also Beka recently opened a metal and plastic doors and windows workshop and earns a small income from it.

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 re-startup credits with soft conditions to rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit, Beka will purchase raw materials for his newly opened workshop. After having more materials to work on, Beka will be able to get more private orders. He will work hard and long hours to satisfy client needs and try to expand his business. For this he will reinvest part of the profit. Another part of the profit will used for purchasing all the needed household goods for his family to provide better living conditions for them.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,314,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,800 helped Beka to purchase raw materials for his newly opened metal and plastic doors and windows workshop.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
May 31, 2013
Jun 16, 2013
Currency Exchange Loss:
Jun 17, 2014