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.