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Khatuna is 45 years old. She lives in Samtredia District with her family: husband – Zviad, 19-year-old daughter, 18-year-old son, and mother-in-law. Khatuna’s son goes to school and her daughter plans to enter high school next year. Khatuna works as a saleslady in a village store. She spends the whole day in the store and her monthly salary equals to 200 Laris. Zviad takes care of a milk cow owned by the family. The dairy products are mainly consumed by the family and the surplus is sold in the village. The total average monthly income of the family is 400 Laris, including the pension of Khatuna’s mother-in-law. According to Credo estimations, the family belongs to the subsistent poor category.

Khatuna requested credit to start-up a trade business. Her loan request was approved in the framework of a new joint initiative from Kiva and Credo. The start-up loan program envisages provisioning business start-ups and re-startups with credit on soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Khatuna will purchase a mini-bus to trade greengrocery products. Zviad will lead the business. He will purchase various greengrocery products from local farmers at wholesale prices and sell them in nearby towns with a price mark-up. The new business initiative will increase the monthly income for the family by 300 Laris, which will mean a 75% increase. The living conditions for the family will improve and in the future they will have enough income to access regular credit products available on country’s capital market, in case of need.

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
  • $8,096,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,900 helped Khatuna purchase mini-bus to trade fruits and vegetables.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Mar 27, 2012
Apr 12, 2012
Currency Exchange Loss:
May 17, 2014