A loan of $1,300 helped to begin selling used clothing.

Khatuna's story

Khatuna is 43 years old. She lives with her 18-year-old son, who goes to the local school, and 21-year-old student daughter. Khatuna requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and her family’s poor living conditions.

Khatuna is an administrator and her daughter works at a local advertisement agency. They both get a small monthly income. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

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 the received credit Khatuna will begin selling used clothing. She plans to purchase used clothing from the wholesalers and then resell at higher prices among her villagers. This will gave her a chance to 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.

Loan details

Lenders and lending teams

Loan details