Galina Bogdanova's Group

Galina, 38, is the group leader. She is divorced and so raises her son and daughter by herself. She works in a clothes factory and also receives orders at home. Galina completed dressmaking courses before starting work in the factory. She has shown great inspiration and energy in her work as her business has started to grow. Among her achievements are that she has bought a three-room flat in Tokmok city, a new sewing machine, and made many customers. At the very beginning she invested only thirteen dollars to purchase thread and a small amount of fabric. Now her monthly income constitutes around fifty dollars. She sees great opportunities in this business.

Galina is requesting a loan to purchase additional equipment and furniture. This will allow her to attract more customers and expand her business. Her son is 17 and will go to college very soon. Galina is doing her best to save enough funds for his higher education. During the last 15 years, she has come to understand that having her own clothes factory would give her financial stability and a better standard of living. She has all the necessary qualities: experience, knowledge, determination and a readiness to take risks.

Tatjana, Ajzada and Nina are Galina’s fellow group members. Tatjana is 35, and has one young daughter, who stays with her sister. She works in a clothes factory. Tatjana is requesting a loan to purchase building materials for her bath’s repair. Her only aim is to build a secure future for her daughter.

Ajzada is 33, and is married with two children. She combines two jobs – she works as a seamstress and also cuts hay for sale. She is requesting a loan so that she can add to her husband’s earnings, enabling them to buy a house in Tokmok city.

Nina is a 27-year-old divorced mother of two children. She also works in a clothes factory. From her childhood, her dream has been to become a couturier, and she has already bought a sewing machine. Nina is requesting a loan to renew furniture at home and prepare her children for school.

Where did this loan come from?

This loan is brought to you by Mol Bulak Finance, a young and ambitious socially-focused MFI in Kyrgyzstan. Mol Bulak Finance is strongly committed to the principles of sustainable development on the basis of the 3-Ps concept: People (building human capital and taking care of its customers and the society as well), Profit (to be profitable to grow further), and the Planet (taking care of the environment). It is also the only MFI in Kyrgyzstan that delivers its services to customers 365 days a year. To learn more about Mol Bulak and view a video presentation about the organization, please visit: www.kiva.org/about/aboutPartner?id=135

If you would like to support and learn more about Kyrgyzstan and microfinance in Central Asia, please join our Lending Team, Supporters of Kyrgyzstan, at http://kiva.org/team/kyrgyzstan. Members will get special updates and news from the Kiva Fellows in Kyrgyzstan and Mol Bulak staff.



About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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