Loan Illustration

I have a grocery store in which I sell a variety of products to my customers. I am dedicated to providing high quality products to my customers. I have run the …

Trade Selling groceries

Tajikistan Tajikistan

Loan amount €560

Funded 10%

by 2 members

Project open to funding

Only 33 days
to finance: €500

Sohibjamol Sodikova - Purchase food stocks

Borrower

Last name: Sodikova
First name: Sohibjamol
Gender: Female
Age: 48
Marital status: Married
Number of children: 4
Region: I.Somoni–Dushanbe
Main activity: Sales / Food Sales / Selling groceries

Loan Request

Purpose: Purchase food stocks
Amount: €560
Duration: 36 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 have a grocery store in which I sell a variety of products to my customers. I am dedicated to providing high quality products to my customers. I have run the grocery store for 10 years and my customers are happy with the goods I sell. At present I would love to take a loan from MicroWorld to buy food products for my store. With the loan, I plan to expand my business and improve my family’s living conditions. I really appreciate MicroWorld lenders’ help!

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 which is in charge of administrating the loan and repaying MicroWorld lenders.

  • Time on MicroWorld: 588 months

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