Loan Illustration

For 6 years I have been selling discs and music. This is my only source of income. With the advent of summer, I would like to expand my trading business. I plan…

Trade Sales

Tajikistan Tajikistan

Loan amount €580

Funded 100%

by 4 members

Funding disbursed to MFI, repayments ongoing

Disbursement date: 08/01/2018
Final repayment of the loan: 02/01/2020

MicroWorld's investors have funded: €580

Sherjahon Kuchumov - Expand activity

Borrower

Last name: Kuchumov
First name: Sherjahon
Gender: Male
Age: 23
Marital status: Married
Number of children: 2
Region: Spitamen

Loan Request

Purpose: Expand activity
Amount: €580
Duration: 18 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

For 6 years I have been selling discs and music. This is my only source of income. With the advent of summer, I would like to expand my trading business. I plan to buy an ice cream machine and put it next to my point. This will allow me to get the maximum profit and increase the family budget. To realize this goal, I need financial support. Thanks to this loan, I will be able to achieve my goals. I hope for your kindness.

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: 593 months

Rates and transparency

  • This loan 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.

The MFI