With this start-up loan, Rezo plans to purchase a van to start a transportation business. He will carry and transport various items depending on the needs and requests of his customers. He will also use his van to make fruit and vegetable deliveries. He thinks that the business will be profitable and the family will have a stable income, enabling them to cover everyday costs as well as expand the business in future.
With the support of the start-up program, Rezo will get an opportunity to tackle their financial difficulties and save for the purchase of their own house.
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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