Zulaika M. lives in Osh city, in the south of Kyrgyzstan. She is the single mother of two children. In 1993, in order to find a way to earn a living for her family, Zulaika began her business in trade. She started selling woman’s clothes at the market using her initial investment of 15,000 KGS. Due to supreme efforts and her strong determination to provide a better life for her children, Zulaika managed to multiply her investment and broaden her business by opening a second sales point at the local market. To widen her assortment of goods, Zulaika got her first loan, which was used as intended and repaid correctly.
Unfortunately, in June 2010, when violent clashes caused by the deposed political regime broke out in the city of Osh, Zulaika lost her business, which was robbed and looted. But Zulaika didn’t give way to despair and braced herself to resume her lost business and continue to work. For this reason, Zulaika is applying for a loan of 135,000 KGS, which she needs to restart her activity. Zulaika believes that the only way out of different complicated situations is mutual understanding and moving forward together.
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.