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Besarion is 64 years old. He lives with his wife, Giuli, in a small village of Khulo district. Geiuli is a librarian; she works at the local library and gets 200 GEL (Georgia Lari) in a month. Besarion is involved in agricultural activities. In particular, he has a plot of agricultural land where different kinds of fruits and vegetables are grown. He is a very hardworking man and does his best to insure a good harvest, which is sold at local markets.

As the existing income is only seasonal from agricultural activities and is not enough for the family, he decided to start his own business. All the financial institutions rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Besarion applied for credit from MFO Credo. His request was approved in the framework of the Start Up program, which is a joint initiative with Kiva permitting the rural poor to start or re-start businesses.

With a loan of $3,000, Besarion will open an auto spare parts shop. As the shop is opened, he will be able to generate monthly income and thus improve their living conditions. This credit will be a great support for the family. Besarion is thankful to Kiva lenders for giving him a chance to generate income.

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
  • 34
    View loans »
    Georgia Loans Fundraising
  • $8,323,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Besarion to open an auto spare parts shop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 10, 2013
Jul 25, 2013
Currency Exchange Loss:
Aug 17, 2015