Gulnara J. is the treasurer of the group. She is 35 and married. She has three daughters and a son and all of them study at school. Seven years ago, with the initial investment of 10,000 soms, Gulnara and her husband started to breed cattle. By selling the cattle after fattening, they make 4,000 soms per month. Gulnara applied for the loan because she wants to purchase a bull and resell it at a higher price after fattening.
Almazbek A., 29, is married. He has two sons and a daughter and all of them are preschool age (In Kyrgyzstan, children go to school when they are seven). Four years ago, with the initial investment of 10,000 soms, Almazbek rented a place and started to sell convenience goods. He makes 4,000 soms per month. With the money received from the loan, he wants to purchase foodstuffs to increase the turnover of his business. In the future, Almazbek plans to expand his business and wants to build a big house.
Ulpat K., 44, is married. She has two daughters and two sons. The older daughter and her Dad went to work in Russia to make some money, and the other children are students. Six years ago, with the initial investment of 10,000 soms, Ulpat rented a place and started to sell convenience goods. She makes 8,000 soms per month. That profit made it possible for her to repair her house and pay for her children’s education. Ulpat also breeds livestock and now the price for livestock is low. So with money received from the loan, she wants to purchase sheep for breeding.
--- Where Did This Loan Come From? ---
This loan is brought to you by Mol Bulak Finance (MBF), a young, ambitious and socially-focused Microfinance Institution in Kyrgyzstan.
MBF 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). MBF is the only Microfinance Institute in Kyrgyzstan that delivers its services to customers 365 days a year. To learn more about MBF 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 microfinance 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 Kiva Fellows in Kyrgyzstan and from the MBF 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