He is very enthusiastic and has good business acumen. He has noticed a high demand for a dinner hall in his district. In response to the local market demand, he has requested credit to finance the costs of purchasing building materials and all the needed inventories for starting a dinner hall. He owns commercial space, and after renovation and furnishing, Mevludi will be able to host wedding parties, birthdays, etc. Local people will pay for using the hall and Mevludi will earn extra money.
He hopes this Kiva loan will be helpful for 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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This loan has been fully funded!