The family income is modest and Patman wishes to start a trading business to generate extra funds. With this start-up loan, Patman will purchase cheese at wholesale prices in the neighboring town where prices are lower, and then she will sell cheese among local retailers with a price mark-up. Patman’s co-worker will help her to make deliveries.
Patman will earn additional income for her family's well-being. The increased profit will be reinvested in the same business, and Patman hopes she will be able to improve the standard of living for her children in the future.
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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