Shaiyr O. is treasurer of the group. She is 60 and married. She has a daughter who is 20. Her daughter works as a seamstress. Her husband is farmer and Shaiyr has been breeding cattle for almost 2 years. She started breeding cattle with an initial investment of 2500 soms. Now, she makes 1500 soms monthly from cattle breeding. In order to increase her profits, she's planning to buy 4 more ewes, then fatten and sell them at a higher price. She already has educated her daughter about the profits from cattle breeding. Now, she wants to prepare a dowry for her daughter, also from the profits from cattle breeding.
Ulan O. is 35 and married. He has two sons, 9 and 8 years old. Both of his sons go to school. His wife is a seamstress. Ulan in his turn combines cattle breeding with a job as a taxi driver in order to provide for members of his family. He has been in the cattle breeding business for two years; he started with initial investments of 20,000 soms. Now, it brings him 2000 soms monthly. Like other group members, in order to increase his profits from cattle breeding, he needs more head of cattle. So, this is the first reason for his application for a loan. The second reason is that he needs to make car repairs so as to continue his job as a taxi driver. With the profit from a loan, he is planning to increase significantly the number of head of livestock he has and buy a flat in the capital of Kyrgyzstan (Bishkek) where his children can enjoy better educational opportunities.
Almazbek O. is 40 and married. He has two daughters, 6 and 4 years old. His wife is a teacher of the Kyrgyz language at a local school. Almazbek as well as Ulan has to combine his job as an engineer with agriculture in order to provide for members of his family. 7 years ago, he received as a present from his parents an area under cultivation, which pushed him to start sowing potatoes and wheat. He started sowing potatoes and wheat with initial investments of 3000 soms. Profit from agriculture provided for his family and improved the living conditions of his family. Besides this, he bought furniture for his house. His profit from agriculture is 1500 soms per month. Now, he wants to start cattle breeding. In order to start cattle breeding, he needs to buy at least one head of cattle. Thus, he is applying for a loan. This loan will help him to buy one head of cattle and forage for cattle. He believes that he will increase significantly his herd. On the received profits, he wants to make capital repairs on his house and provide better living conditions for his family.
--- 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 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