Levan is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program provides start-up and restart-up loans with reduced requirements for the rural poor who do not have access to many credit products because they are regarded as “high-risk borrowers." Levan will use his loan to go to Germany himself and purchase two cars to resell for a profit. He hopes that his business will be profitable. By increasing his monthly income, he hopes that the new business initiative will significantly improve the living conditions of his family.
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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