George runs a small-scale agricultural business and owns an apple garden. He sells his harvest seasonally. The only monthly income for the family is a small refugee assistance from the local government, which is hardly enough to cover feeding costs for the family of nine.
In order to generate income, George plans to start a trading business with fruits and vegetables. With the loan amount, he will purchase fresh products in bulk and sell them in his district with a price mark-up. George owns a mini-bus and will use it in making deliveries. George hopes his initiative will be lucrative and be able to increase family funds.
George and his family members are awaiting 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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Success!! The loan was 100% repaid