Guljamila D. is 58 years old. She lives in Bakai-Ata village, in the heart of Kyrgyzstan, with her family. She has four children; two daughters are married and live with their own families, her elder son lives in Bishkek (the capital of Kyrgyzstan), and her younger son lives with Guljamila and helps his parents in farming. Guljamila graduated as an accountant and worked in a local market, where she earned a reputation as a punctual, hard working and thrifty woman.
In 2001, however, starting with an initial capital of 30'000 Kyrgyz Soms, Guljamila's family began to cultivate land and grow apple and plum trees. In addition, they started breeding cows, which allowed them earnings from selling the milk. Her husband helps Guljamila in farming and selling their products.
Guljamila will use her loan of 135'000 Kyrgyz Soms to broaden her business by buying four cows, fertilizer for her apple and plum gardens, as well as to rent a plot of land to cultivate beans. This will allow her a better harvest next year. Also, she plans to construct a winter barn for her cattle. With the revenues from these investments she will be able to raise her family's living standards.
In the future, Guljamila plans to further augment the number of cattle. To better control the ongoing expansion of her farm, she plans to buy a computer to implement an electronical system of accounting. She also would like to acquire a drying machine to process her apples and plums and the ones of other farmers. The revenues from the current loan will help her achieve these goals.
Bai-Tushum's Kiva borrowers benefit from a 5% discount on the interest rate if they pay back without delay.
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 that lead to increased employment and meet the interests of its 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.