Gulshada C., age 43, sells clothes at market. After graduating from technical university, she got married and became the mother of four children. Her family started to engage in field crop cultivation, but this was not a very profitable activity and it did not cover the expenses of the large family. Gulshada and her family decided to move to the town of Tokmok, to her sister’s house. There, in order to find means of subsistence, Gulshada started to sell clothes at the local market. Using her initial capital of 5,000 KGS, she worked hard and managed to raise her floating capital.
At the beginning of 2010, in order to grow her business, Gulshada applied to Bai-Tushum and Partners for her first loan, which was used to purchase a small shop. The loan amount was applied as intended and repaid without any delays.
Now Gulshada wants to take out a loan of 80,000 KGS to expand her range of products for the winter season in her shop. With the revenues, Gulshada plans to pay for the education of her children. She strives ever forward and dreams that her children will become progressive people. In the future, Gulshada plans to buy a house for her family.
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.
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.