A loan of $800 helped to purchase inventory for her newly opened beauty salon.

Khatuna's story

40-year-old Khatuna lives in Batumi district with her 50-year-old husband and two children (21 and 16 years old). 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 the family’s poor living conditions.

Khatuna’s husband is a tinsmith. He is working on private orders and earns a small monthly income which is rarely enough to cover their food expenses.

Khatuna requested a 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 inventory for her newly opened beauty salon. She has opened the salon recently and needs to add more inventory to start the business. Khatuna is a professional stylist, so she will work in the salon herself in order to decrease the expenses and increase the income. 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