My name is Habiba, I am married and have 3 children. I run a clothing store that I opened 10 months ago. I have gained a lot of experience and I would now like …
Sales
Tajikistan
Loan amount €560
Funded 100%
by 5 members
Project closed to funding, awaiting disbursement to MFI
Disbursement date: 03/01/2019
Final repayment of the loan: 03/01/2020
| Accenture by MicroWorld's investors have funded: | €560 |
Habiba - Purchase garments
Borrower
First name:
Habiba
Gender:
Female
Age:
41
Marital status:
Married
Number of children:
3
Region:
Isfara
Loan Request
Purpose:
Purchase garments
Amount:
€560
Duration:
12 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 Habiba, I am married and have 3 children. I run a clothing store that I opened 10 months ago. I have gained a lot of experience and I would now like to expand my clothing range. My only obstacle is the lack of funds. I decided to achieve my goals with a loan.
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 Accenture by MicroWorld: 93 months
- Repayment rate: 100%
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
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. |
