Her loan request was approved through a new joint initiative of Kiva and Credo. The program provides start-up and re-startup credits with soft conditions to the country's rural poor. They do not have access to traditional credit products, being regarded as “high risk borrowers” because of low income.
Madona requested a loan to equip the store with an additional refrigerator. She will keep perishable products there and will be able to sell meat which is in high demand. The existing refrigerators are inadequate to store all the inventory. When Madona has an additional refrigerator, she will be able to increase her inventories as well as the turnover in the store. This will raise the income of the family, which will be used to improve the family’s living conditions. She awaits your support.
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