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Beka is 23 years old, single, and lives in Tbilisi city with his parents and brother. Beka’s brother is unemployed at the moment. His father runs a small factory, producing tiles. Beka is involved in his newly started business of importing cars. He buys cars abroad and sells them in Georgia for a profit. Beka plans now to continue to work on his business and to make it grow. He applied for the credit to MFO Credo. His request was approved in the framework of a start-up program, which is a joint initiative with Kiva, permitting the rural poor to start or restart businesses. A loan of 1800 USD will help Beka to purchase more cars to resell for a profit. He hopes that his business will be profitable. With this financial support Beka will expand his car import business and have more working capital. He promises to make his repayments on time.

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
  • $8,323,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $1,800 helped Beka to purchase more cars for resale.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 7, 2013
Sep 7, 2013
Currency Exchange Loss:
Oct 7, 2013