MicroVest Invests in Salym Finance to Support SME Growth in the Kyrgyz Republic

To facilitate access to capital for Kyrgyz SMEs, MicroVest Capital Management (MicroVest) has invested in Salym Finance, a licensed, deposit-taking Non-Bank Financial Credit Organization (NBFCO). The $2.5 million investment will help Salym expand access to financial services for more underserved SMEs in a country where almost a quarter of the population lives below the national poverty line (ADB 2019).

Founded in 2007, Salym Finance offers agriculture, business, housing, and consumer loans that support the development and growth of its borrowers’ businesses, many of whom reside in rural areas. As the only deposit-taking microfinance institution in the Kyrgyz Republic, the company prides itself on offering some of the lowest interest rates among all NBFCOs in the country. Salym achieved its SMART certification in 2019 for its strong consumer protection principles, with products designed to meet the needs and financial circumstances of its customers to prevent excessive consumer debt.

This is MicroVest second loan cycle with the company.

DISCLOSURE INFORMATION

The information contained here has been written for MicroVest Capital Management, LLC (“MicroVest”) and no representation or warranty, expressed or implied is made by MicroVest as to the accuracy or completeness of the information contained herein. The portfolio company highlighted is for informational purposes only and does not represent all of the portfolio holdings and it should not be assumed that investments in the portfolio company identified and discussed were or will be profitable. The information presented on this page is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to purchase an interest in any MicroVest product (the “Funds”), and nothing herein should be construed as such. Any such offer or solicitation will be made only by means of delivery of a definitive private offering memorandum which contains a description of the significant risks involved in such an investment. Prospective investors should request a copy of the relevant Memorandum and review all offering materials carefully prior to making an investment.