Lia is involved in her own business. She has opened a general store, where she sells various home and personal-use products. Now she needs financial support to purchase stock for the store and to have working capital to continue running her business.
Lia has been approved for a loan within the framework of a new joint initiative between Kiva and Credo. The start-up loan program provides business start-up loans with soft conditions to informal businesses that do not have access to credit products. The loan will greatly assist Lia and she will be able to improve her economic situation and give her large family a better lifestyle.
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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