Elguja works as an electrician and also works hard on the family-owned land, growing greens. He sells the harvested greens seasonally at local markets. Elguja decided to expand this business and requested a loan. The Start-Up program enables him to have a loan of 4,000 GEL to build a greenhouse. After the greenhouse is built, he will grow tomatoes and cucumbers there.
Elguja is very motivated to work hard and ensure a good harvest. He will sell the harvested tomatoes and cucumbers locally. With the increased income, he will improve the living conditions of 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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