Loan Illustration

My name is Shirmoi. I make European-style dresses and traditional Tajik dresses for a living. I have been a seamstress since 2016 and I really appreciate my wor…

Production Production

Tajikistan Tajikistan

Loan amount €1,140

Funded 100%

by 13 members

Project closed to funding, awaiting disbursement to MFI

Disbursement date: 09/01/2019
Final repayment of the loan: 03/01/2021

MicroWorld's investors have funded: €1,140

Shirmoi - Purchase sewing machine(s)

Borrower

First name: Shirmoi
Gender: Female
Age: 20
Marital status: Single
Number of children:
Region: Dangara

Loan Request

Purpose: Purchase sewing machine(s)
Amount: €1,140
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

My name is Shirmoi. I make European-style dresses and traditional Tajik dresses for a living. I have been a seamstress since 2016 and I really appreciate my work. I particularly like sewing different types of clothes. I am applying for a microcredit to buy an electronic sewing machine. I would like to increase my production. My goal is to increase my income so that my family and I can take advantage of new economic opportunities. Thank you for your support.

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: 604 months

Rates and transparency

  • This loan does not pay any interest to the lender.
  • Following your loan commitment, you have 7 calendar days to assert your right of withdrawal, by mail at contact@microworld.org.
  • 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 beneficiaries have been well informed about the risks of over-indebtedness and the consequences of payment default.
  • 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