Loan Illustration

My name is Ironbi and I have 7 children. I sell fabrics in the district market. I have been working in the retail trade since 2015. This company is my only inco…

Trade Sales

Tajikistan Tajikistan

Loan amount €1,560

Funded 35%

by 8 members

Funding disbursed to MFI, repayments ongoing

Disbursement date: 04/01/2019
Final repayment of the loan: 04/01/2021

MicroWorld's investors have funded: €580

Ironbi - Purchase fabric

Borrower

First name: Ironbi
Gender: Female
Age: 59
Marital status: Divorced
Number of children: 7
Region: Kulob

Loan Request

Purpose: Purchase fabric
Amount: €1,560
Duration: 24 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

My name is Ironbi and I have 7 children. I sell fabrics in the district market. I have been working in the retail trade since 2015. This company is my only income. Now I have to bring new stocks for the next season, but I don't have enough money to invest. So that's why I asked for a loan. Thank you in advance.

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: 601 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