Nurbubu and her husband have been breeding livestock for fifteen years and every month they sell some sheep to cover the family expenses. With the money received from the loan Nurbubu wants to purchase more sheep in order to increase the number of their livestock. In the future she plans to build a shed and start repairing her house.
Taalaibek S. is 23 and divorced. In order to make money, he works as a taxi driver using his own car. Three years ago, with an initial investment of 20,000 soms, he started to breed livestock. Then he sold all the livestock and purchased his vehicle. With money received from the loan he wants to purchase auto parts to repair his car.
Farida T., 33, is married with a daughter and a son, both of whom attend school. Five years ago, with an initial investment of 8,000 soms, she bought three sheep and then resold them after fattening. In five years, Farida has increased the number of her livestock to fifteen. She applied for the loan because she wants to improve her living conditions and purchase furniture. In the future she plans to open a kiosk near the house and start selling convenience goods.
Kumushai J. is the treasurer of the group. She is 51 and married with three sons and two daughters. All the children are married and live separately with their families. Ten years ago, with an initial investment of 5,000 soms, Kumushai opened a kiosk and began to sell convenience goods. But then her husband suggested she start selling meat, because nobody in their village does that. When Kumushai started to sell meat, she noticed that the demand for meat is high enough and she makes good money. She applied for the loan because she needs to purchase sheep. In the future she plans to expand her business and then start repairing her house.
--- 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