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Ulugbek E. is an optimistic and positive person who works to build a prosperous future for his children and maintain their lifestyle. Ulugbek is 44 years-old and a citizen of Kyrgyz's southern city, Osh. He graduated from industrial college and worked as a mechanical engineer at a brick factory. But the money which Ulugbek earned working around the clock, didn’t cover the needs of his family of three children. In 1994, with the wholehearted support of his wife, who worked as a teacher at the local school, Ulugbek decided to start his business selling office supplies. Using their money, which they put away for a rainy day, this couple began to sell office suppliers and bags at the local market. Due to strong efforts and hard work, Ulugbek managed to buy a house and a used car for his family. His conscientious attitude to work allowed him to gain a reputation of being a responsible businessman.

But in June 2010, when violent clashes caused by the deposed political regime broke out in the city of Osh, Ulugbek lost his business. His sales shop at the market was robbed and looted. But Ulugbek didn’t give up and decided to resume his lost business and continue his activities. For this very reason, Ulugbek is applying for a loan of 100,000 KGS, which he needs to restart his business.

Bai-Tushum and Partners uses Kiva funding to target the especially vulnerable population. 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.

Additional Information

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.

About Kyrgyzstan

  • $2,500
    Average annual income
  • 70
    View loans »
    Kyrgyzstan Loans Fundraising
  • $11,305,375
    Funds lent in using Kiva
  • 46.5
    Kyrgyzstan Soms (KGS) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Ulugbek to purchase office supply goods for retail sales.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 20, 2010
Oct 5, 2010
Currency Exchange Loss:
Nov 15, 2012