Khatuna and her husband are unemployed now. The family lives in poverty, though it gets a pension from the government as being in poverty. Sometimes their relatives give them money for food.
Khatuna has requested a loan several times, but her attempts were all rejected because of not having a stable income and her lack of experience. The Start Up program, which is a joint initiative with Kiva, enables her to get a loan for starting a business.
She will purchase dairy cows, will milk every day, and will produce dairy products to sell and to feed her children. The Start Up program will be a great support for her 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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