Nurgul works as a teacher and her husband is a constructor. In order to make money, Nurgul and her husband breed livestock. They have been doing it for five years. Sometimes they sell some animals to cover family expenses. With money received from the loan, Nurgul wants to improve her living conditions and purchase a fridge. In the future, she plans to increase the number of livestock they have and start repairing her house.
Kokon J., 48, is a widow. She has raised six children; the younger son and the younger daughter are at school and the others are working, married and live separately with their families. Kokon applied for the loan because she needs money to celebrate her son’s wedding.
Burmakan K. is the treasurer of the group. She is 54 and a widow. She has raised eight children, most of them live separately, except the youngest daughter, who is at school. Four years ago, Burmakan sold three sheep and with that money, she started to sell convenience goods. In this way, she earns 5000 soms per month. With money received from the loan, she wants to purchase sheep to increase the number of livestock and with the rest of the money, she will purchase a variety of goods to increase the turnover of her business. In the future, she plans to start repairing her house.
Imarathan D., 55, is a widow. She has raised five children, four of them are at school. Eight years ago, with the initial investment of 26000 soms, Imarathan started to sell convenience goods. She makes 10000 soms per month. With money received from the loan, she wants to purchase a variety of goods to increase the turnover of her business.
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