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  • Women represent 44 percent of FMCC’s borrowers. FMCC provide financial services to help them succeed in entrepreneurship, livestock and agriculture business.
    FMFC
First MicroFinance Company (Kyrgyz Republic)
The story of Assel Bolotovna

Assel Bolotovna is a shining example of how hardworking and tenacious FMFC clients are. With a young family and the unfortunate passing of her mother, Assel knew she had to do something to improve her and her family’s situation. She inherited a small store premises from her father in Naryn’s central market. The shop hadn’t been operating for several years; it had no customers or any inventory and needed renovations. 

Taking actions towards her goal 

Assel considered all of her options and decided to take a loan from First MicroFinance Company to fix up the store and turn it into a functioning business. After consulting with a Loan Officer in FMFC Naryn branch and presenting all the necessary documentation, Assel was approved for a 500,000 KGS SME loan. She used the funds to expand the premises, upgrade the fixtures and purchase a wide range of inventory.  

At the end of the day

Assel successfully turned the idle shop into a profitable business! A business that is able to compete with other outlets in Naryn’s central market. Through her profits Assel has fully repaid the loan and is considering taking out a credit line with FMFC to further grow her business.

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