Jumagul A. is 49 years old. She was born in a large, low-income family in the north of Kyrgyzstan. From early childhood, she was eager to study, which led her to graduating from the Industrial College with a diploma with honors. In 1985, Jumagul got married and soon gave a birth to her son, Tilek. Unfortunately, her happy marriage was broken by tragic death of her husband in car accident.
To support her small family, Jumagul took any available work, but her earnings didn’t cover all of their expenses. In 1995, Jumagul decided to start her own sales business. With initial capital of only 1,000 Kyrgyz Soms (~$20 USD), she began to resell groceries at the local market. Thanks to her persistent desire to provide a good education for Tilek, she worked hard, managed to purchase a small shop at the new market in Cholpon-Ata town, and increase her floating capital to 60,000 Kyrgyz Soms (~$1280).
Now, Jumagul plans to take a loan of 100,000 Kyrgyz Soms to broader her assortment of goods. It will allow her to increase her sales and acquire new customers. In the future, Jumagul dreams of hosting her son’s marriage and building a house where she can hear her grandchildren’s voices.
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.