Revaz used to run a grocery store in the village. As a result of lack of funding, he closed the store. Now Revaz requested a Kiva loan to restart the store. With the borrowed money, he will purchase grocery products for sale in the store. The family's income will increase. Revaz plans to invest part of their income in agriculture – he plans to grow vegetables on family-owned land instead of maize, as vegetable growing is more profitable. Another part of the income will be used for the family – they will purchase needed household goods to improve their living conditions.
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 CredoLLC 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.
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Success!! The loan was 100% repaid