With the loan, Nino will go to Turkey (a neighboring country) and purchase apparel and household items at wholesale prices. The prices are lower in Turkey than in Georgia and Nino will generate a good income after selling the items. Her regular clients will be her neighbors and co-workers. She will work on orders as well and give her customers the chance to pay later for their purchase. This loan will be a great support for the family to earn additional income and improve their standard of living in the future.
Nino and her daughters hope for your kindness.
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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Success!! The loan was 100% repaid