Gogia is requesting a loan from Credo to start-up his family business. He will use his loan to purchase piglets to start an animal husbandry business. He will put the piglets in a shed in the yard and raise and sell them for a higher price. Gogia's loan request was approved within the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages business start-up and re-startup credits with soft conditions for country rural poor who do not have access to credit products. They are regarded as “high risk borrowers” due to their low income. Gogia's new business initiative, financed with his Kiva start-up loan, will significantly improve his living conditions.
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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