Gulnara J. is the treasurer of the group. She is 46 and married. She has three daughters and two sons, and all of them are at school. Gulnara works as a teacher at school and her husband is a taxi driver. They are engaged in cattle breeding and have three cows, two bulls, two calves and four horses. With money received from the loan, Gulnara wants to purchase cattle for breeding. In the future she wants to start repairing her house.
Uzak S., 42, is married. He has four sons and all of them are at school. Uzak works as a teacher at school. Eleven years ago, Uzak and his wife started to breed farm animals and now they have twenty animals. Every month Uzak sells some of them to make money. With money received from the loan, he wants to purchase some farm animals in order to resell them after fattening at the higher price. In the future, she wants to purchase a computer and repair the shed.
Bakyt K., 40, is married. He has two sons and two daughters; the older daughter is the private entrepreneur and the other children are at school. Eight years ago, Bakyt, with the initial investment of 3000 soms, purchased a variety of convenience goods and then resold them at higher prices in his own kiosk. In this way, he makes 5000 soms per month. With money received from the loan, he wants to purchase goods to increase the turnover of his business. In the future, Bakyt wants to build a barber shop near the house, and work there as a barber.
--- 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