Three years ago with that money, Gulzat purchased livestock and then resold the livestock at a higher price. She made 15000 soms and since that moment, she has been breeding livestock. With money received from the loan, she wants to purchase sheep for breeding.
Gulzat is pregnant and in the near future they will have another child, so they are planning to start building a new house.
Eliza T., 24, is married. She has two children, both of them are preschool age (under 7). Two years ago, with the initial investment of 30000 soms, Eliza and her husband started to breed livestock. Selling some livestock after fattening, they make 5000 soms per month. That profit made it possible for them to improve their living conditions and purchase a new fridge. With money received from the loan, Eliza wants to purchase sheep in order to increase the number of livestock they have. In the future, she is planning to start repairing her house.
Ularkan J. is the treasurer of the group. She is 55 and a widow. She has raised nine children; two of them are at school and live with Ularkan. Two years ago, with the initial investment of 10000 soms, Ularkan started to purchase fruits and vegetables in the village and then resell them at the market at a higher price. In this way, she makes 10000 soms per month. With money received from the loan, she wants to purchase a variety of fruits and vegetables in order to increase the turnover of her business.
Gulmira T., 35, is married. She has two daughters and two sons. The older daughter and the older son are at school and the other children are not yet. Gulmira is engaged in cattle breeding; she resells cattle after fattening at a higher price. In this way, she makes 10000 soms per month. Her husband works as a driver, and when he is free, he helps his wife with her activity. Gulmira applied for the loan because she needs money to finish building her house. In the future, she wants to build a shop and start selling convenience goods.
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