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Khatuna is 34 years old. She lives in Chabinaani village, Akhmeta district with her parents and 13 year old son. Khatuna has requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected every time, because of low income and family’s poor living conditions.

The family owns a vineyard. With the harvested grapes they produce wine and sell it at the local markets to earn a small monthly income. Their additional income is Khatuna’s father’s salary. He is an artisan and works on private orders on house constructions and renovations.

Khatuna requested a loan from Credo to start-up the 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 the provision of business start-up and re-startup credits with soft conditions to rural poor, who do not have access to credit products. These poor people are regarded as “high risk borrowers” because of their low income.

With her credit Khatuna will start trading with clothes from Turkey. She will go there to purchase products at the wholesale price, bring it to her village and sell with the price marked-up among the villagers. Khatuna will earn a profit and reinvest it in her business to have better choice to offer to her clients. She will earn an additional income for the family and will be able to provide better a life for them.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $8,323,825
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Khatuna to start trading with clothes from Turkey.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Jun 26, 2013
Jul 1, 2013
Currency Exchange Loss:
Apr 16, 2014