Abdufato Samadov


Status: Paying Back

$1,150.00   Loan Amount
20% repaid

About the Entrepreneur

Name: Abdufato Samadov
Location: Istaravshan, Tajikistan
Activity: Bakery

About the Loan

Loan Amount: $1,150.00
Loan Use: Purchasing flour wholesale for baking “lepeshka”
Repayment Term: 14 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Jul 10, 2009
Date Disbursed: Jul 3, 2009
Date Funded:Jul 12, 2009

About the Country

Country:Tajikistan
Avg Annual Income:$1,388.00
Currency:Tajikistan Somoni (TJS)
Exchange Rate:4.4003 TJS = 1 USD



Samadov Abdufato has been in the bakery business for 10 years. So that he could provide for his family, he started working as a trainee in one of the local bakeries at the age of 16. For one work shift that usually lasted 17 hours he was only paid 6 to 7 loaves of bread, which was not enough for his family.



He started looking for a space so he could open his own business. Once he found one, he started his own bakery. In the beginning, Abdufato was only baking special orders for weddings because he was short of cash. After a period of time, when he accumulated more funds, he started producing bread for sale in the market. Currently, his father and two hired employees are helping him in the business. Abdufato is asking for additional funding so that he can increase his production.




More about Tajikistan and IMON International



Tajikistan is known for its rich history, which includes a key post along the Silk Road and the end of Alexander the Great's rule. It has also produced great thinkers, philosophers, scientists and poets, including Rudaki, Avicenna, Ferdowsi, Omar Khayyam, Jomi, and Rumi. The country is home to communities that still speak the ancient Sogdian language, epic mountain passes, and a civilization that dates back to the 4th millennium BC. And, even today, it is a complex mixture of the Islamic faith, Soviet culture, New West culture and Central Asian traditions.



But Tajikistan is also the poorest of the former Soviet republics. The civil war, which ignited soon after its independence from the U.S.S.R., further damaged the already weak economy. In addition, 93% of the country is mountainous and only 7% of the land is arable. These conditions have resulted in high levels of unemployment and have forced hundreds of thousands to seek work in other countries, mainly Russia. While the people of Tajikistan are working to improve its agricultural production and manufacturing sector, nearly two-thirds of the population still live in abject poverty.



IMON's History


Since December 2007, IMON International has worked closely with Kiva and Kiva lenders to ensure that poor and low income clients represent a viable business proposition. Funds raised through Kiva have already been distributed to thousands of IMON International's clients and will continue to provide thousands more with permanent access to the varied financial services they need. To learn more about IMON International's work, please visit: www.imon.tj


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Journal entries for Abdufato Samadov


Loan has been disbursed
 
Entrepreneur: Abdufato Samadov
Location: Istaravshan, Tajikistan

Thank you for your loan. It has been disbursed to Abdufato Samadov by IMON International in Tajikistan. We are excited to watch this business grow. Over the 12 months of this loan, IMON International will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Istaravshan, Tajikistan
Jul 13, 2009
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Kiva Help Repayment Schedule for Abdufato Samadov

  Expected Repayments Actual Repayments Comments
October 2009 $76.53 $76.53 Repayment Received
November 2009 $79.60 $79.60 Repayment Received
December 2009 $82.78 $82.78 Repayment Received
January 2010 $86.09 Available Jan 1  
February 2010 $89.53 Available Feb 1  
March 2010 $93.12 Available Mar 1  
April 2010 $96.84 Available Apr 1  
May 2010 $100.71 Available May 1  
June 2010 $104.74 Available Jun 1  
July 2010 $108.93 Available Jul 1  
August 2010 $113.29 Available Aug 1  
September 2010 $117.84 Available Sep 1