Vakhtang’s wife helps him to run a small-scale farm with two milk cows, two calves, and a pig. The family produces cheese with the received milk and sells it locally. In addition, they grow nuts, pineapples, guava, and kiwi on the family-owned land and they sell harvested products at the local open market.
Since the income is not enough to cover food and everyday expenses, Vakhtang decided to set up a workshop in his yard to generate an income. He used to work as a joiner, and he has rich experience in this field.
With the loan, Vakhtang will buy a joiner’s desk and all the other necessary equipment needed to start the workshop. He will work on special orders to serve local people. This start-up credit will be a great help for the family to increase their monthly income and improve their living conditions. Vakhtang thanks all Kiva lenders in advance.
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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