It is for this reason that he has decided to start his own business. He plans to begin trading food products but he needs a van in order to make deliveries. With the loan, Nodar will pay for the van and start buying nuts as it is now harvest season and the prices are low. He will then sell the nuts later in the year with a price mark-up to generate income. He will also sell various fruits and vegetables and work hard to develop his business.
Nodar is a very hardworking man with a great desire to ensure that his family members have good living conditions. He will earn a good income in order to satisfy the daily needs of 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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