He works hard and the business is going well, but his earnings are not enough for such a large family. For this reason, Imeda decided to diversify the business and requested credit from MFO Credo to purchase souvenirs and jewelry for selling. Imeda will purchase them in the capital city at wholesale prices from his friend and display the items in the commercial space where he works. He will hire a salesperson and hopes that the business generates additional income.
He is a very enthusiastic and energetic young man with a great desire to get ahead. Imeda 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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