Tazakhan received the loan in the framework of a start-up program. He will start a new family business with the loan. He plans to purchase calves. After several months the calves will turn into milk cows. Tazakhan will start cheese production. He will sell the cheese on the local market. It will significantly increase the income of the family. Tazakhan will be able to purchase additional household goods to improve the family living conditions. Also part of the additional profit will be reinvested in dairy farming, in order to improve it and increase its profitability.
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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