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Total loan: $950
Gori, Shida Kartli, Georgia / Retail
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Khatia's loan finished fundraising,
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A loan helped To start trading in clothes and household goods.
Khatia is 28 years old. She lives in Gori district with her husband Ramaz. She works at the local marketing research agency as an interviewer, earning a small monthly salary that is hardly enough to cover her family's monthly expenses. Khatia previously requested a loan from local financial institutions several times to start up a family business, but without any success. Her loan requests were all rejected because of her low income and the family’s poor living conditions. Khatia also requested a loan from Credo to start up a family business. Her loan request was approved under the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages providing business start-up and re-startup credit with soft conditions to the country's rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” due to their low income. Khatia will use her loan to start trading. She will go to the Sarpi district to purchase clothes and household goods at the wholesale price, bring them back to her district, and sell them to villagers with a price markup to earn a good profit. She will use part of the profit to reinvest in and develop her business and part for her family's well being.