Leila requested credit to start a poultry business. Her loan request was approved by a new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up credits with soft conditions to the rural poor. These borrowers do not have access to traditional credit products, being regarded as “high risk borrowers” because of their low income. With the credit, Leila will purchase chickens and raise them for 2-3 months. After this period she will sell the grown chickens for a higher price. The poultry business will provide additional income to the family and they will be able 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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