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Khatuni
Khatuna is 49 years old. She lives in Khashuri district with her 22-year-old son and 27-year-old daughter. Khatuna requested loan from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected every time because of low income and the family's poor living conditions.

Khatuna's son is working as a security guard on a small monthly salary. This is the only source of the income for the family.

Khatuna requested loan from Credo to start up 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 purchase 2 milk cows. She will be milking the cows every day to produce dairy products. The products will be sold at the local markets and among the villagers. Khatuna will work as hard as she can to expand her agriculture and increase the family's income. 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
  • 46
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Khatuni to purchase 2 milk cows.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 20, 2013
Listed
Jul 7, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 18, 2014