Her husband Robinzon works at the local supermarket as a warehouse worker and receives a small monthly salary. This is the only income for the family and it’s not enough to feed them especially when there are two infants in the house.
Tamar has requested a loan from Credo to start-up a family business. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The Start-up loan program provides business start-up and re-start credits with easy conditions to the country's rural poor. They do not have access to credit products as they are considered “high risk borrowers” because of low income.
With the received credit Tamar will purchase 40 chickens and maize seeds. Robinzon will plant the maize on the small agricultural plot of land that they own. Tamar will look after the chickens and sell the eggs along with the harvested maize among the villagers and at the local markets. With the profit from this Tamar will be able to look after her children better.
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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