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Khatuna
Khatuna is 34 years old. She lives in Gurjaani District with her husband and two sons. Khatuna requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected each time because of low income and her family’s poor living conditions.

The only source of income for the family is her husband’s small salary working as guide. Khatuna has hens and she sells eggs locally. It is hardly enough to buy food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Khatuna requested a loan from Credo to start up a family business. Her loan request was approved in the framework of new joint initiative of Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country's rural poor. They do not have access to credit products because they are regarded as “high risk borrowers” due to low income. With the received credit, Khatuna will purchase chicks, raise then and resell at higher prices. This will increase the income of the 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
  • 72
    View loans »
    Georgia Loans Fundraising
  • $6,859,275
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $325 helped Khatuna to purchase chicks to raise and resell.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 30, 2013
Listed
Apr 17, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014