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Khatuna is 39 years old. She lives in Tsvermaghla village, Ozurgeti district with her husband and retired parents-in-law. 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 all the time because of her low income and her family’s poor living conditions. Her family runs an agricultural business. In particular, they have two milk cows and two calves. The cows are milked every day to produce dairy products. The family also owns beehives with bee colonies and a plot of agricultural land, where nut and mandarin trees are grown. All the products are sold at the local market. Khatuna’s husband is working at the local petrol stations as a driver. Her father in-law is also a driver but on a truck for private orders.

Khatuna requested a loan from Credo to start a family business. Khatuna has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With her credit, Khatuna will rent a commercial space and purchase grocery stock to open a seasonal grocery store. She used to have this business before and is very experienced in this field. Khatuna will purchase seasonal fruits and vegetables at the wholesale price and sell with a price markup from her shop. This will help her to earn an additional income for the family and improve their 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
  • $8,094,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Khatuna to rent a commercial space and purchase grocery stock to open a seasonal grocery store.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
May 25, 2013
Jun 14, 2013
Currency Exchange Loss:
Oct 17, 2013