Tamar is very hard working woman. She has her own grocery shop and works there. In addition, she is involved in agricultural activities. Specifically, she has a plot of land where nut trees are grown. She sells the harvested nuts at local markets at a good price.
Tamar decided to start a dairy business with the loan, but the local credit providers usually demand experience and some stable income from the borrowers. Tamar’s credit requests were rejected several times, as she was unable to satisfy their requirements.
She received the credit in the framework of the joint initiative between Kiva and Credo - the Startup Program that gives rural poor people the chance to start or re-start businesses. With the loan of 4,000 Gel, she will purchase a milk cow and a stock of groceries for her shop.
When the milk cow is purchased, she will be able to produce dairy products and sell them at her shop. She will also purchase a wide range of products to satisfy her customer’s requirements. With this financial support Tamar will expand her grocery store, attract more customers, and expand the dairy farm.
She promises to make her repayments on time.
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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Success!! The loan was 100% repaid