Tursunbek J. is a 39-year-old farmer who lives in the Naryn region in the part of Kyrgyzstan with the highest mountains. He has three children: His elder son studies at the university, the second son is the schoolboy and his most beloved daughter is 6 years old.
He graduated from college and worked as a mechanic at the local farm. In 2004, in order to find means of subsistence, he started his business in cattle-breeding with the initial capital of 5,000 Kyrgyzstan soms (KGS). He worked hard and managed to enlarge the number of livestock to three milk cows, 10 sheep and 10 goats. With the revenues from this activity, Tursunbek was able to pay for an education for his son and buy a used car. His wife helps him in his efforts to provide a good life to his family by selling groceries at the local market.
Tursunbek plans to use this loan of 125,000 KGS to expand his farm by buying calves and sheep. With the revenues from the loan, he plans to broaden his business by reconstructing a barn for his cattle. In the future, he dreams to build a big house for his 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.