Archagul E., 42, is married. She has a daughter and two sons. The daughter studies at university and the sons are at school. Six years ago, with an initial investment of 2000 soms, Archagul began to sew Kyrgyz national cloth and dressmaking supplies. In this way, she makes 3,000 soms per month. Archagul applied for a loan because she needs money to pay for her husband’s medical services (he is a handicapped person).
Saparbek A., 31, is married. A year ago, with an initial investment of 20,000 soms, he started to sell convenience goods in his village. In this way, he makes 10,000 soms per month. The profit made it possible for him to purchase a vehicle. And now Saparbek has applied for a loan because he needs money to purchase building materials to start repairing his house. In the future, he plans to find a permanent job with a high salary.
Aida A. is the treasurer of the group. She is 46 and married. She has a daughter and two sons. The daughter is married and works as a nurse. The first son studies at university and the second is at school. Aida’s husband is an artist (he prepares monuments) and she helps him with that activity. With money received from the loan, Aida wants to purchase materials which are needed for making monuments. In the future, she plans to build a house in Bishkek.
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 and upholds the triple bottom line – People (building human capital and taking care of its customers as well as society), Planet (keeping environmentally friendly) and Profit (earning revenue to expand autonomously). Mol Bulak is 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: 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 - Mol Bulak Finance 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