Damira T. was born in Chaldovar (Panfilov region, Kyrgyz Republic), where she still lives. She is 57 years old. She was the third child in a large, low-income family. Because she had to help her mother in the household from early childhood, she left secondary school after the 7th grade. Damira got married at the age of 22. Soon she gave a birth to a son and two daughters. At that time Damira’s husband started breeding sheep. It was not a very profitable activity and additional earnings were required in order to support their family. That’s why, without education and practical knowledge, Damira decided get into sales.
Damira started, as do many people in her situation, selling at a local market. Her start as an entrepreneur was successful due to strong efforts. Starting with a capital of only 2,000 Kyrgyz Som, she managed to multiply her investments within one year. After five years of selling groceries in the market, Damira managed to purchase a sales stall and open up a small grocery store near her house. From this moment the shop became a family business. Her grown up children started to help their mother in the shop.
In 2009, Damira obtained her first loan of 100,000 Kyrgyz Som from Bai Tushum and Partners. She used it to construct a shop on her own land. Her activity started to bring in permanent profit and her clientele increased.
Then a tragic accident happened: her only son had a car accident. He needed expensive medical treatment. At the same time, Damira’s granddaughter was born, which further increased the family’s expenditures.
Damira wants to take a loan of 100,000 Kyrgyz Som to expand the range of products in her shop. She hopes that this will help her increase her revenue. In the future, Damira plans to buy an apartment for her son in Karabalta and marry her daughters off well.
Bai-Tushum and Partners uses Kiva funding to target the especially vulnerable population. Kiva borrowers benefit from a 5% discount on the interest rate if they pay back without delay.
About Bai Tushum Bank CJSC
Bai Tushum Bank CJSC is a microfinance bank in Kyrgyzstan offering clients a range of products including loans for business development, trade, production, leasing, mortgage, consumption and more. Its portfolio is mostly comprised of group loans that cater to the broadest population of clients. Kiva lenders’ funds help the bank expand its services in remote areas to impact even more vulnerable communities in Kyrgyzstan.