I am repairing phones and selling phone accessories. This is my main family income. I would like to ask for support. I need the amount to purchase more types of…
Sales
Tajikistan
Loan amount €1,000
Funded 100%
by 7 members
Project closed to funding, awaiting disbursement to MFI
Disbursement date: 05/01/2021
Final repayment of the loan: 11/01/2022
| MicroWorld's investors have funded: | €1,000 |
Farhod - Diversify activity
Borrower
First name:
Farhod
Gender:
Male
Age:
20
Marital status:
Single
Number of children:
0
Region:
I.Somoni–Dushanbe
Loan Request
Purpose:
Diversify activity
Amount:
€1,000
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 am repairing phones and selling phone accessories. This is my main family income. I would like to ask for support. I need the amount to purchase more types of phones accessories for sale. I believe that you will support me.
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
- Time on MicroWorld: 624 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
