Unfortunately, Merab lacks access to financial institutions to obtain credit for starting a business, as they require stable income and business experience. He received credit within the framework of a joint initiative of Kiva and Credo. The start-up program gives rural poor people the chance to start or re-start businesses. With the loan of $2,500, Merab will purchase basic groceries for starting a grocery store. His wife will work as a saleslady. With this assistance, the family will receive additional income and expand their business gradually. Merab awaits your kindness.
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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