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Khatuna is 43 years old. She lives in Tbilisi, the capital city of Georgia with her 54-year-old husband and two sons (Erekle and Tsotne). Nearly everybody works in the family, but together they all only make a small monthly income. Khatuna is working privately as a babysitter, her husband has a car and is a taxi driver, and her younger son is working on a fuel station.

Khatuna requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time, because of their low income and the family’s poor living conditions.

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

With the credit she has received, Khatuna will rent a space to open a food court where they make Turkish Donners, and will purchase a special mounting for it. She wants to employ her son Tsotne, and they will both set up the family business. Tukish Donner is very popular in Tbilisi and Khatuna will rent a place in the crowded area, where she hopes her business will be profitable. All of the family members will then be employed, and their income will significantly grow. The profit will give them opportunity to have 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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,799,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Khatuna to rent a space to open food court where they make Turkish Donners and purchase a special mounting for it.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Mar 12, 2013
Mar 16, 2013
Currency Exchange Loss:
Oct 17, 2014