Emrie runs an agricultural business. She has a plot of land, where she grows vegetables and fruits. She sells her agricultural products to retailers at the local open market. She also runs a dairy farm with two milk cows. Emrie produces cheese and curds, and she sells them in nearby villages. The total average monthly income of the family is 1000 GEL.
Emrie has requested a loan to construct a greenhouse for vegetables. This will enable her to grow vegetables (tomato, cucumber and greens) during the entire year. The amount of harvested vegetables will increase and Emrie will earn more income from sales. With the increased amount of profit, she will finance the education of her children.
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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