In order to generate a stable monthly income on her own, Lela decided to start a grocery store in her village and sell various food products. She has already rented a store and now requests a loan to buy construction materials for renovation. She will also buy merchandise such as meat and dairy products, oil, pasta, rice and other products. Lela will work as a salesperson and serve her clients in a friendly way. The family will earn a monthly income and they will be able to cover household expenses as well as improve their living conditions 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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