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Beglar is a 48-year-old married man who lives in Marneuli district. He has a wife, two sons and a daughter. His daughter gets a disability pension of 100 GEL from the local government, and his sons are learning at the university. Beglar's wife works at a school canteen and generates 500 GEL monthly. Beglar is unemployed at the moment. There is a high unemployment rate in the region, especially among people up to 40.

As the existing income is not enough for their five-member family and Beglar can’t find any other job, 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, Beglar 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. A loan of 2,500 USD will help him to purchase a secondhand car. Beglar will serve the local people as a taxi driver and transport them around the city. He is a very enthusiastic and hard-working person. He has a great desire to provide his children with a good education for progressing in life and to provide significant help for his disabled daughter. This credit will be a great support for the family. Beglar 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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $8,648,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $2,500 helped Beglar to purchase a car to start a taxi business.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 21, 2013
Dec 26, 2013
Currency Exchange Loss:
Feb 24, 2014