Entrepreneur Ultugan Kyzaibekova owns a tailor‘s business where she and her 35 employees make clothes and uniforms for the police, government employees and prosecutors, among others.

Ultugan’s journey to becoming a successful tailor began in the early 1990s, when she initially bought food and clothes to sell on in her small village. When she moved to Almaty with her family, she expanded her business and sold everything that was in demand – food, cosmetics, toys, etc.

During this time, she got to know the microfinance institution KMF Microfinance Organisation LLC, which has been in existence for over 20 years, and bought clothes for sale with the help of small loans of 50-150 thousand KZT (Kazakh tenge) (approx. 110-328 USD). After some time, she already had several stalls at the Almaty flea market and a thriving business in which her husband and son were also involved.

I’d rather turn down an order than complete it badly. It’s a great feeling when customers come back with new orders or recommend us to their friends

Ultugan Kyzaibekova

But Ultugan had a greater vision: She began attending sewing courses, took on orders for tailored clothes and gained regular customers over time. When production began to grow, she opened a sewing workshop. She took out another loan to buy sewing machines and other equipment. The location of the workshop near an important bus stop aided her in her success: travellers would come to the capital to shop and became interested in high-quality alternatives to Chinese clothing. The main assortment of the tailor shop was eventually determined by demand: Ultugan receives orders from government agencies for the production of work clothes and uniforms with state symbols and badges.

After a few years, Ultugan founded a company intended to participate as a subcontractor in large tenders for sewing uniforms for government agencies. By taking out more loans, she was able to constantly improve her equipment and therefore her product range. Her next goal is to buy a plot of land and build a large sewing factory in Almaty. She also wants to apply for funding from KMF for this project.

*Loans to the microfinance institution via the IIV Mikrofinanzfonds since 2017.

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A success story from Zira, Azerbaijan: Red Globe LLC, which has become a pioneer in organic production, was able to expand its business thanks to an SME loan from TuranBank. At a time when more and more people are paying attention to their diet and prefer organic products, this is an impressive example of sustainable agriculture.

The Red Globe LLC company is one of the pioneers in growing organic vegetables in Azerbaijan. It was founded seven years ago in Zira, a district on the outskirts of the capital Baku, and is specifically engaged in growing organic tomatoes and grapes. Seven years ago, Red Globe LLC was still a small business in organic crop production.

Thanks to the support of TuranBank, the company has been able to establish itself as a leading supplier of organic products in its region. In addition to serving as a role model for sustainable cultivation, the company also provides important employment for the surrounding villagers during harvest time. TuranBank’s loans helped Red Globe LLC gradually upgrade irrigation systems and other equipment needed for cultivation. Modern and durable greenhouses were also built. In addition, TuranBank also helped the company gain more know-how in the area of efficient production increase.

In addition to its success in producing healthy food, Red Globe LLC has been able to employ over 80 people during the harvest season, providing an income opportunity for the people and families in the surrounding villages.

The company strongly believes that organic fruits and vegetables are important for human health. It plans to further expand its organic operation and hopes to make a positive social impact by providing employment opportunities.

We are proud that this investment has contributed to the United Nations’ 8th Sustainable Development Goal, “decent work and economic growth.” It demonstrates how positive change can be created through SME financing and sustainable agriculture.

*Loans to the microfinance institution via the IIV Mikrofinanzfonds since 2022.

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Mr. Then is 37 years old and a tuk-tuk driver from Ang Snuol district in Kandal province, which is on the outskirts of Phnom Penh city. He took out a loan from the LOLC microfinance institute of $3,550 for 48 months to replace his old tuk-tuk with a new Bajaj RE205, a three-wheeled vehicle powered by a fuel combination of liquefied petroleum gas and gasoline.

With the new Bajaj RE205 three-wheeler, he was able to cut his fuel costs in half. Three-wheeled cabs are a vibrant part of the transportation network in his area. Compared to the old traditional tricycles, the Bajaj RE205 tricycle emits far fewer CO2 emissions.

With his new cab, he currently earns an average of $20 per day, compared to $10 in the past. Together with his wife’s salary of 250 USD per month, they can support their family of three children.

Prum is a loyal customer and has borrowed money twice before. The first microloan was a loan of 1,000 USD in 2013 to buy a traditional tuk-tuk. The second microloan was $3,550 USD to replace this traditional tuk-tuk with a modern Bajaj RE205 tricycle.

Thank you to LOLC microfinance institute for supporting me to start my own small business by providing access to capital and advice. I can increase my family income and afford to send my three children to school.

*Loans to the microfinance institution via the IIV Mikrofinanzfonds 2017-2026.

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Florist Nino Peikrishvili is 27 years old and runs flower stores in downtown Tbilisi. She opened her first store at the age of 19. When she decided to expand her business model, she took a loan from FINCA Bank Georgia. Today, her stores are open 24 hours a day, seven days a week. In addition, for the first time, customers can purchase flowers via online ordering.

She uses a variety of decorative materials for her flowers, which she offers for purchase in specially designated flower buckets. In the eyes of the young entrepreneur, the most important prerequisite for business success is a clear vision of business operations and the right partners by her side.

Today, Ms. Peikrishvili manages four stores with a team of eight employees.

*Loans to the microfinance institution via the IIV Mikrofinanzfonds 2017-2019.

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