Parida I. is treasurer of the group. She is 54 and married. She has 4 children. Her elder son is 21, her first daughter is 18, her second daughter is 15 and her youngest daughter is 12. Her son is going to graduate this year from Tashkumyr Institute and he combines his studying process with a job as a road worker. Her first daughter is a junior at the Tashkumyr College. In 2002, they made 20,000 som on the resale of coal and used this money for a purchase of one head of cattle and 7 goats. Starting their business with 20,000, they make 8000 som each month. Cattle breeding is mainly the job of Paridas' husband. At present, they have been able to increase their livestock herds to 4 cows, 4 calves, 100 goats and 10 sheep. They applying for a loan in order to buy 7 or 8 sheep to fatten and sell at a higher price. In the future, with the profits from cattle breeding, they are planning to open a food store and to buy a car for the family.
Azamat R. is 20 and single. He lives with his mother, farther, and two sisters. His little sister is 15 and goes to school. His elder sister is a teacher at the local school. His mother works in Russia. Azamat works in coal during the appropriate season, works as a builder with his farther during the summer period and breeds cattle. During the summer periods when Azamat and his father work as builders, their cattle are under the care of his grandparents on his mother’s side. With the efforts of his grandparents, Azamat has been able to increase the number of livestock in his herd to 4 head of cattle and 16 sheep. Azamat started cattle breeding 4 years ago with an initial investment of 5000 som. Now, this brings in 500 soms monthly. Azamat applied for a loan in order to get funds to rebuild his old cattle shed. With the profits from cattle breeding, Azamat is planning to build his own house and after that, get married and live a happy married life with his beloved wife.
Ernes B. is 26 and married. He has a son one year old. His wife is a housewife. He is a taxi driver on the road between Jalalabat – Karakul with his own car. Each day he earns 600 som. Besides being a taxi driver, Ernes earns money with cattle breeding. Two years ago, he bought one goat for 750 som. Since that moment, he has increased the number of goats to 4. During summer periods, his wife’s parents take care of their cattle in the mountains where there are better conditions for goats. During winter periods, Ernes breeds goats himself. Now, livestock breeding brings him in 15,000 som monthly. He wants to increase the number of livestock he has. Thus, he is applying for a loan in order to buy more 10 goats. He will fatten them and sell them at a higher price. In the future, with the profits from livestock breeding, he wishes to buy his own house, because now he lives with his parents.
--- 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.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid