One of these citizens is Jumabubu O. a sixty-one-year-old widow who brought up five children: three of them are daughters and two are sons and now all live separately with their husbands and wives.
Jumabubu’s husband was also hardworking and they bought a cow with their savings. Later on they sold it and bought two cows with the proceeds. Unfortunately, as life is an unpredictable thing, her husband died from a heart attack, leaving all his children and the little farm on Jumabubu’s brittle shoulders.
Nowadays, Jumabubu is a caring grandmother who has her little farm. She does animal husbandry and sells milk and also rears cattle. She has expanded her livestock and has already married off her children. Now she wants to marry off her grandchildren as well.
Thirty years ago, nobody thought that this family, with 15,000 soms ($340) in their pocket, would succeed one day, especially after their grief, but they did. Now her profit is 11,500 soms ($262).
Jumabubu wants to obtain a loan to buy ten sheep to raise and sell.
Gulnara S. is forty and is married with four children: two sons and two daughters. Her elder children attend the local school and the younger one is a preschooler. She wants to give a high level of education to her children and to buy a big house as well. Her husband transports passengers.
Now, Gulnara sells milk and breeds cattle. Everything started with 10,000 soms ($228) which they got from selling their harvest and which they used to buy a cow. Now they already bought a car, a tractor and have increased their head of livestock. With the loan they will buy a heifer to raise.
Kuldjamilya K. is a fifty-four-year-old widow who has three daughters and a son. Her elder daughters are married and live separately; her younger daughter works in the shop and her son is busy about the house. Her children already received an education.
Kuldjamilya is a seamstress, making national garments. About forty years ago for cost of about 5,000 soms ($114) she and her husband bought a heifer. Now, from selling milk and other items, they earn 2,100 soms ($43) per month. They are planning to increase their head of livestock and to build a barn and a fence. The loan will be used to buy a heifer to raise.
Arsygulbek M. is a married man at the age of forty nine. He has five children to whom he wants to give a good education and he also wants to buy a house. Three of his children are sons and two are daughters. His spouse is a housewife. His elder daughter is married, the second one works in the garment factory, his son is busy about the house and the youngest ones go to the local school.
Arsygulbek’s wife and son always help and encourage him. They sell milk and look after cattle while he works as a taxi driver. A few years ago they bought a cow for 12,000 ($273) and thus they started their business. Now their profit is 8,400 soms ($190) per month. Arsygulbek wants to obtain a loan to increase the total number of their cattle.
--- 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 in order 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 micro-finance in Central Asia, please join our Lending Team - Supporters of Kyrgyzstan - at www.kiva.org/team/kyrgyzstan. Members will get special updates and news from the Kiva Fellows in Kyrgyzstan and from 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