Turgunbek is 63 and married. He has two sons, the younger of whom is his main helper in cattle breeding business.
Turgunbek started it in 1995 with the initial capital of 5,000 KGS and managed to develop his household with monthly floating capital of 7,000 KGS. With the revenues, he was able to provide his family with essentials and buy more cattle.
Today his farm, which has two cows, 22 sheep, 10 goats and one horse, still needs to be developed. For this reason, Turgunbek has applied for a loan of 50,000 KGS to purchase more cattle. With the revenues, he plans further broadening of his business and in future, purchasing of a car 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.