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47-year-old Besik lives in the Senaki district with his 36-year-old wife and two children (eight and ten years old). Besik requested loans from local financial institutions several times for his family business start-up, but without any success. His loan request was rejected each time because of low income and family’s poor living conditions.

The main source of income for the family is their small monthly salaries. Besik is working as a security guard, and his wife is working as a seller at the local shop. Their additional income is from agriculture. They own a plot of agricultural land where maize is grown. The harvested product is sold at the local market.

Besik requested a loan from Credo to start up the family business. Besik 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 the 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, Besik will purchase a car. He will start driving the car as a taxi. Besik is a very hard-working man. He wants to improve the family's living conditions and ensure that his children can study in the future, and for this he will work as hard as he can. The new business initiative financed with the Kiva start-up loan will significantly improve the living conditions of the family.

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
  • 30
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $2,000 helped Besik to purchase a car to drive as a taxi.
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jun 29, 2013
Jul 7, 2013
Currency Exchange Loss:
Aug 6, 2013