Teimuraz has been involved in this business for nine years. He decided to purchase a tractor and get an additional source of income. Teimuraz requested a loan and the Start Up program which is joint initiative with Kiva and MFO Credo gave him a chance to get a loan of $ 3000 for purchasing a tractor. He will use the tractor for cultivating his land, as well as to renting it out to local people to get additional income. The Start Up program will be a great support for his family.
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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