The only source of income for the family is from agricultural activities. In particular, they have two milk cows, whose milk is used in cheese production. Lia produces cheese and sells locally at a good price. Besides, her mother-in-law works as a sales lady at a local grocery shop. It is hardly enough to buy food for the family. According to Credo estimations the family belongs to the subsistence-poor category.
Lia requested a loan from Credo to start a family business. Her loan request was approved. With the credit Lia will sell clothing. She plans to purchase clothing from wholesalers and then resell it at higher prices among her villagers. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the 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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