Mira opened her shop three years ago and she makes 5,000 soms per month. With money received from the loan, she wants to purchase a variety of convenience goods in order to increase the turnover of her business. In the future, she wants to expand her business and purchase a vehicle.
Raiymbubu N. is the treasurer of the group. She is 41 and married. She has four children. Her husband works in the factory. Ten years ago, with the initial investment of 500 soms, Raiymbubu started to take orders and sew with the national cloth and dressmaking supplies. In this way, she makes 5,000 soms per month. That profit made it possible for her to purchase a new sewing machine. With money received from the loan, she wants to purchase fabrics and materials. In the future, she wants to see her sons get wed.
Vera C., 46, is married. She has four children. In order to cover family expenses, Vera started to sew with the national cloth and dressmaking supplies. She has been doing it for 13 years. In this way, she earns 6,000 soms per month. That profit made it possible for her to improve her living conditions and purchase a new fridge. Vera applied for the loan because she needs money to purchase fabrics and materials. In the future, she wants to expand her business and save some money to contribute to her daughter’s wedding.
Kerimkul T., 45, is married. He has four children; a daughter and a son are at school and the other children are working. Kerimkul is a taxi driver and his wife works in the ice cream shop. Kerimkul applied for the loan because he needs money to repair his vehicle. In the future, he wants to purchase a house for his older son.
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