Jyldyzkan and her husband breed cattle and chickens. Seven years ago, with the initial investment of 300 soms (about $6.50), they started to breed chickens. After fattening them, they sold the chickens to Bishkek. That time, Jyldyzkan made good money and since that moment, she has been engaged in the wholesale trade of chickens. She earns 12000 soms (about $257) per month.
With the money received from the loan, she wants to purchase hay for cattle and feed for the chickens. In the future, she wants to see her older son get wed, to expand her business and then purchase a vehicle.
Sairakan K. is the treasurer of the group. She is 44 and married. She has two daughters and a son. The first daughter works in a barber shop, the second studies at university and the son is at school. In order to make money, Sairakan sells women's clothes in the store. Her husband works as an inspector in the Ministry of Transports.
Sairakan has been selling clothes for 15 years; in this way, she makes 12000 soms (about $257) per month. Sairakan applied for the loan because she needs money to pay for her daughter’s education at university.
Jamilya A., 52, is married. She has a son and three daughters, all of whom are working. Jamilya and her husband are engaged in cattle breeding and with money received from the loan, they want to purchase barley to feed the cattle during the winter season.
Damira J., 44, is married. She has two daughters and a son. The first daughter works as a teacher and the others are students. In order to make money, Damira sells wheat. Her husband works as an operator at the gas station; when he is free, he helps his wife.
Damira started with the initial investment of 20000 soms (about $429) and now she makes 4500 soms (about $96) per month. With money received from the loan, she wants to purchase barley in order to resell it later with a higher price.
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 "P" 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