I have been working in a sewing shop for fifteen years. I make custom clothing. My business gives me good income. It's enough to feed the family. But to attract…
Production
Tajikistan
Loan amount €480
Funded 100%
by 5 members
Loan fully repaid by the entrepreneur
Disbursement date: 04/01/2020
Final repayment of the loan: 10/01/2021
| MicroWorld's investors have funded: | €480 |
Dzhumagul - Purchase sewing machine(s)
Borrower
First name:
Dzhumagul
Gender:
Female
Age:
53
Marital status:
Married
Number of children:
3
Region:
Rumi
Loan Request
Purpose:
Purchase sewing machine(s)
Amount:
€480
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
I have been working in a sewing shop for fifteen years. I make custom clothing. My business gives me good income. It's enough to feed the family. But to attract new clientele and to improve the quality of my production I would like to buy a new sewing machine. For this I need a loan which I will pay off within 18 months. Thank you in advance for your support!
Economic and social context
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.
| 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
- Partnership status: Confirmed
- Credit score:
- Time on MicroWorld: 135 months
- Repayment rate: 98.54%
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
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).
| Legal status | NBFI (Non-Bank Financial Institution) |
| Number of borrowers | 12,478 |
| Size of loan portfolio | $7,915,344 |
| Average loan balance | $634 |
| Average borrower interest rate | 3.6% per month |
| Total number of staff | 225 |
| PAR (Portfolio at Risk) | 1.79% |
| Average amount / GDP per capita (Accessibility for the poorest) | 81.62% |
| Percentage women borrowers | 36% |
| Savings accounts opened by the clients | No |
| Guarantees required to access a loan | Joint and several guarantee (group), ownership (individual) |
| Special programmes | “Start-Business” programmes with loan, training and guidance. |
