Ia works as a hired worker at the local farmer's vineyard, in return for a small service fee. Her earnings are seasonal and unstable. Ia's husband is a mini-bus driver and the main income provider in the household. The couple works hard to generate income and improve their standard of living, but their earnings are modest and they don't manage to save money.
With the received loan, Ia will start a confectionery shop. She is good at baking and wishes to sell her production among local people. Ia will purchase construction materials and renovate a small store, located near her house. She will also purchase raw materials and bake various kinds of cakes.
Ia hopes her business will generate income since there is no other, similar store nearby. She hopes for your generosity.
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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