Loan Illustration

I am an experienced needle worker. I have been sewing women's clothing for many years. I work at home. I want to speed up my work process and increase my daily …

Services Repairing clothing

Tajikistan Tajikistan

Loan amount €780

Funded 82%

by 9 members

Project open to funding

Only 26 days
to finance: €140

Zulaykho Toshmadova - Purchase sewing machine(s)

Borrower

Last name: Toshmadova
First name: Zulaykho
Gender: Female
Age: 37
Marital status: Married
Number of children: 1
Region: Dushanbe
Main activity: Services / Clothing / Repairing clothing

Loan Request

Purpose: Purchase sewing machine(s)
Amount: €780
Duration: 12 months
Loan type: in fine
The loan is reimbursed in one installment at the maturity date of the project (principal and possible interests).
Note: additional time may be necessary for the funds to be credited on the lenders' accounts due to delays in international transfers.

Borrower's quote

I am an experienced needle worker. I have been sewing women's clothing for many years. I work at home. I want to speed up my work process and increase my daily income. I have decided to change my sewing machine, because my current sewing machine is quite old and doesn't carry out its work very well. My main challenge is the lack of finance.

Economic and social context

Tajikistan

Tajikistan

Considered to be the poorest region of the former Soviet Union, the development of Tajikistan relies heavily on loans via microfinance, particularly in the rural areas of the nation.
Country's key figures - source Worldbank
Population 6 952 223
GNI per capita 700 USD
Economic Growth 3.4%
Poverty rate 47%
Unemployment rate No data
Literacy rate (above 15 years of age) 100%
Life expectancy 67 years

MFI Status

This loan is managed locally by our field partner HUMO which is in charge of administrating the loan and repaying MicroWorld lenders.

You should be aware that lending involves a risk of non-repayment. However, the risk associated with this MFI is considered lower than average.

Rates and transparency

  • This loan is at 0% and does not pay any interest to the lender.
  • The MFI will reimburse the lender in case of default of the entrepreneur but there is no guarantee or insurance given by the MFI.
  • 100% of the money collected is sent to the MFI, even if the project is not fully funded on the site.
  • The MFI then makes a loan to the micro-entrepreneur and charges an interest rate in order to cover its operational and financial costs.
  • The platform earns a commission from the MFI for the service it provides, which helps to fund its running costs.
  • More effective than a simple donation, micro-credit promotes long-term sustainable economic development rather than short term help.
  • Read the model of loan agreement

The MFI

HUMO

HUMO

Summary

HUMO is a microfinance institution in Tajikistan. Established in the east of the country where the majority of the population is concentrated, the institution has a dozen branches spread over the rural areas of the country. The institution serves a little over 13 000 clients by means of loans which are mainly distributed to groups of borrowers wishing to develop agricultural activities (livestock farming and sales, cultivation of various products) or small businesses (mainly market vendors or cottage industries).

Key figures - December 2011
Legal statusNBFI (Non-Bank Financial Institution)
Number of borrowers12,478
Size of loan portfolio$7,915,344
Average loan balance$634
Average borrower interest rate3.6% per month
Total number of staff225
PAR (Portfolio at Risk)1.79%
Social indicators
Average amount / GDP per capita (Accessibility for the poorest)81.62%
Percentage women borrowers36%
Savings accounts opened by the clientsNo
Guarantees required to access a loanJoint and several guarantee (group), ownership (individual)
Special programmes“Start-Business” programmes with loan, training and guidance.