Suymbek K. is 46 years old, married, and has five children. He has been engaged in breeding cattle since 2002, and today he has a farm with sheep, lambs and milk cows. Also, he and his wife cultivate cotton and, with the revenues from this activity, they have been able to pay for the education of their children. They dream of seeing their son become one of the famous doctors of the country.
Suymbek started this business with his first loan of 30,000 KGS and now manages to earn about 15,000 KGS monthly. Suymbek plans to use this loan of 100,000 KGS to buy more sheep and cows. With the revenues, he wants to build a summer barn for his cattle. It will allow him to broaden his farm and make it more profitable. In the future, Suymbek wants to buy a car and take his family for a vacation some day.
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.