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Carpenter Numanov makes wooden doors and window frames. Since 2020, he has been receiving loan services from Vodiy to buy raw materials for his workshop: “The microloan opens up more growth opportunities for me.” As a micro-entrepreneur in Uzbekistan it is challenging to get access to financing. Many entrepreneurs work in the informal economy and as a result, can’t present official documents of their businesses to apply for a loan from a traditional bank. 

Microfinance institution Vodiy recognizes that the entrepreneurial spirit among the population is a crucial factor in driving additional income and improving the general well-being of the people. By providing finance to these underserved borrowers, Vodiy empowers them to expand their businesses and achieve financial stability.

With their projects on Lendahand, Vodiy will be able to provide many more small entrepreneurs with a loan. A loan from Lendahand investors will fuel the growth of its loan portfolio and expand its reach. The funds will be used to finance new branches and extend microloans to 14,543 borrowers from the microfinance sector. By focusing on this target niche, Vodiy aims to make a significant social impact, particularly benefiting micro-business clients such as women entrepreneurs, individual entrepreneurs, and craftsmen who have no other sources of finance.

For women it is even more difficult to get a loan. This is why Vodiy is committed to empowering female entrepreneurs and bridging the gender gap in access to financing.

The company operates five branches across different regions of Uzbekistan and currently employs a dedicated staff of 106 people. 

What revenue does your investment generate?

• The annual interest rate is 6%
• The maturity of the loan is 24 months
• This project has a 6-month grace period for the principal. This means that you will start receiving the repayment of the principal of your loan in month 12. However, you will start generating interest on the outstanding amount of your investment from the first month on, which you will receive every 6 months.
• Please note that in this case, you are investing in dollars (USD), so there is a risk of fluctuation in the dollar to euro exchange rate. For more information about possible exchange rate risks, visit our currency page

Example for an investment of 1,000 euros:

• Since there is a 6-month grace period, a total of 60 euros in interest will be generated in the first year (6% of 1,000).
• In the first installment (month 6), you will receive 30 € in interest and 0 € of the principal. In total, you will receive 30 €.
• In the second installment (month 12), you will receive another 30 € in interest plus the corresponding portion of the principal, in this case, 333.33 €. In total, you will receive 363.33 €.
• In the third installment (month 18), you will receive 333.33 € of principal plus the generated interest (on the outstanding principal), which is 20 €. In total, you will receive 353.33 €.
• In the last installment (month 24), you will receive the remaining portion of your principal (333.33 €) plus the final interest (on the outstanding principal), which is 10 €. In total, you will receive 343.33 €.

Total amount you could receive at the end of the term: 1,090 €*

*This amount may vary depending on the EUR/USD exchange rate at the time of disbursement.

Mission

Vodiy’s mission is to support entrepreneurial initiatives and business activities with access to financing for MSMEs. 

Vodiy in numbers

• Founded in 2014
• 5 branches across different regions of Uzbekistan
• 106 employees
• Over 60,829 loans issued
• 12,180 borrowers benefited
• 2,702 women borrowers