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Khatuni is 40 years old and lives in Tbilisi, the capital of Georgia, with her husband and two children. She has requested a loan for a start-up business from local financial institutions several times but without any success. Her request was rejected because of her family's low income and poor living conditions. Khatuni’s husband works as an artisan for a private company and earns a small monthly income while she works in a supermarket. These are the only sources of income for the family, which means they can scarcely buy enough food to eat. According to Kiva partner Credo, the family belongs to the subsistence poor category.

Khatuni has requested loan to start-up a family business under a new joint initiative of Kiva and Credo which provides start-up money to the rural poor. With his loan, she will buy perfume at wholesale prices and then resell it for a higher price in the supermarket where she works. This will increase the income of the family and significantly improve its 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,578,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Khatuni to buy perfume to resell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 19, 2013
Apr 27, 2013
Currency Exchange Loss:
May 17, 2014