Kulsada C. is 46 years old and lives in Amanbaevo village in the north-west of Kyrgyzstan. She has three children – two sons, one of whom is a student, and a school-aged daughter. Kulsada has a higher pedagogical education, and during the last 20 years she has been working as a teacher of Kyrgyz language and literature in a local school. She is known as a purposeful, positive and sociable person. She likes to work with children and help them to be educated people, which is crucial in the formation of their personalities. Kulsada’s husband is engaged in farming.
Unfortunately, a teacher's salary in rural areas is very low. That is why in 1995, Kulsada began to engage in stock-breeding using the 10,000 Kyrgyz Soms that she had put aside for a rainy day. At that time, she had only two calves. Gaining experience in cattle breeding, Kulsada broadened her business and today owns three milk cows, three horses and 27 sheep. She also began to cultivate a plot of land.
Kulsada is a really hardworking woman. Her striving to provide her children with a better life motivated her to apply for a loan of 50,000 Kyrgyz Soms for cattle breeding last year. Using the revenues from this loan, Kulsada was able to buy a car for the family. Now, she has decided to apply for a second loan of 80,000 Kyrgyz Soms. She will use it to buy 28 sheep.
In the future, Kulsada plans to build a house for her older son and to pay for a good education for the younger one.
Kiva's field partner Bai-Tushum and Partners uses Kiva funding to target the especially vulnerable population. Kiva borrowers benefit from a five per cent discount on the interest rate if they pay back without delay.
About Bai-Tushum and Partners
Bai-Tushum and Partners is one of the leading microfinance institutions in Kyrgyzstan. As a reliable financial partner, Bai-Tushum contributes to the economic development of the Kyrgyz Republic through the delivery of microfinance services in rural and urban areas. This leads to increased employment and meets the interests of both clients and investors.
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.