The family runs an agricultural business, breeding pigs and selling piglets at the local open market. They run a dairy farm as well and sell cheese to retailers. In addition, George owns a vineyard and a nut garden. The harvested grapes are used to produce wine for selling.
Besides his agricultural activities, George works at a printing house to earn a monthly income. All the family members work hard, but their existing income is not enough for a family their size.
George has requested this loan to purchase a van, which he will use in the trading business. He will purchase fruits and vegetables from nearby villages and sell them at a price mark-up in another district. He will renew his assortment every morning and offer fresh products to his customers.
This new business initiative, financed by Kiva lenders, will significantly increase the family’s monthly income and improve their 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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