David’s mother works as a baker at the local bakery and gets small monthly salary. In order to generate additional income, David plans to purchase a van and start a food distribution business. Specifically, he will buy rolls, pies, and other food products from the bakery at wholesale prices and then distribute these products to local groceries. He needs financial support for implementing his plan. The loan amount will be added to David’s savings and he will be able to purchase a used van. After the van is purchased, David will run his own business and make a profit to contribute to his family's well being. He hopes for your support and kindness.
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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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