The only source of income for the family is a milk cow, whose milk is used in cheese products. Part of the cheese produced is sold locally and the rest is used by the family.
Valeriane has requested credit to start a family business. He wishes to purchase a minibus to transport construction materials and start a trades business. He will purchase building materials at wholesale prices and sell them for a profit at the local open market. He will also work on orders.
Starting this business will significantly increase the family’s income. They will be able to purchase additional household goods to improve their living conditions.
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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