Jemal is a construction worker. He works on house renovations and his average monthly income is $240. Their existing income is not enough for a family of three. With this start-up loan, Jemal will purchase a truck and restart a transportation service business. He will carry and transport different things, depending on the needs and requests of his customers in order to generate income. He used to have a truck seven years ago and worked in transportation, so he has the appropriate experience in this field. That is the reason why he hopes the business will be successful and lucrative.
Jemal would like to thank all Kiva lenders.
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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