David works as a fireman and gets a monthly income. Besides, he transports wood with his motorbike and sells it among his villagers. The family also owns a vineyard and sells the harvested grapes seasonally.
David 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 piglets. After several months the raised pigs will be sold for a good price. He will also purchase a new motorbike and transport more wood from the forest. The rest of the borrowed money will be used for purchasing dishes for resale. David’s wife will sell the vessels among villagers and this will significantly increase the family income. David will be able to purchase building materials and renovate his house, which is old and damaged. He 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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