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Khatuna
Khatuna is 39 years old. She lives in the small village of the Kaspi district District with her son Shmagi. Khatuna has requested a loan from local financial institutions several times for her family business start-up, but without any success. Her loan request was rejected each time, because of her low income and the family’s poor living conditions.

The only source of income for the family is Khatuna’s income working as a housekeeper. She makes 200 Laris per month. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Khatuna has requested a loan from Credo to start-up a family business. Her loan request was approved within the framework of a new joint initiative between Kiva and Credo. This start-up loan program envisages provisioning of business start-ups and re-startup credits with easy conditions to country rural poor. They 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 truck. After purchasing a truck, her son will serve people by transporting cargo. This will increase the income of their family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.

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

  • $4,600
    Average annual income
  • 53
    View loans »
    Georgia Loans Fundraising
  • $6,847,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,300 helped Khatuna to purchase a truck.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 16, 2013
Listed
Jan 18, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2013