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Besik, 36, is married and lives with wife and two children (2 and 5 years old) in the village of Sanakhshire. Besik is the only one who makes money in his household by doing construction work and completing custom projects locally. Besik is a very enthusiastic man and wants to generate more income and help the family. Their existing income is not enough to cover everyday expenses. So, Besik decided to start up a grocery store, but found that he didn't have enough money to do so. Unfortunately, Besik was unable to obtain a loan from existing financial institutions, as they require a stable income and business experience as a precondition for a loan. But Besik has now received his loan within the framework of a new joint initiative between Kiva and Credo. This start-up loan program provides start-up and re-start up loans with simple terms to the country's vulnerable poor who do not have access to credit. With a loan of 2,500 USD, Besik will rent commercial space in his district and purchase basic groceries for starting up a store. He will care for his clients and treat them in a kind and friendly way. With this determination and his loan he expects to improve his income and give his family members better living conditions.

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
  • 51
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Besik to start up a grocery store.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Jul 22, 2013
Aug 22, 2013
Currency Exchange Loss:
May 24, 2014