The existing funds are not enough for the family of six. In order to generate more income, Karen decided to purchase a second-hand car to use as a taxi. He will transport passengers from his district to the capital city in return for a service fee. The local people mainly use a taxi service to connect with the capital city and Karen’s service will have high demand. A loan of $ 4,000 will help him to start his taxi business. Karen is a very enthusiastic and hard working person with a great desire to ensure his family members with better living conditions. This loan will be a great support for the family. Karen is thankful to Kiva lenders for giving him a chance to generate income.
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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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