She makes living by selling milk but her income is not sufficient to meet her family's needs. Her current income is just thirty five dollars.
During fifteen years of keeping cattle, she has managed to repair her house and pay for her son’s college education.
Cholpon needs a loan to buy hay for her cattle. At this time of year, hay prices are low. She is planning to grow wheat and saving money to buy a house for her son.
Kulpira, Mars and Maikul are Cholpon’s partners. Kulpira is a 49 year old widower. She has one daughter and a grandson. Except for working in a kindergarten, she farms land she inherited after her husband’s death. She needs a loan to pay for grass. She wants to keep part of her supply for winter time and sell the rest.
Mars is 31. He sells foodstuffs: alcoholic drinks, bread, detergents, etc. His monthly income is $165. He understands that as his children grow up, he needs to expand his business to make more profits. A loan would let him purchase more goods and increase turnover.
Maikul is a widow. She is a mother of three children. For the last 15 years she has been a school teacher. Besides that, she sells milk and rears her grandchild. She earns $70 a month. She needs a loan to pay for hay cutting and transportation expenses.
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 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 who 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: http://www.kiva.org/about/aboutPartner?id=135
If you would like to support and learn more about Kyrgyzstan and micro-finance 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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid