A year ago, with an initial investment of 3000 soms, Sharapat Bolotovashe, the 22-year-old treasurer of the group, started wholesaling sunflower seeds. With money received from the loan Sharapat wants to purchase sunflower seeds in order to increase the turnover of her business activity. In the future she wants to save money and purchase a vehicle.
Akjoltoi Z. is a 34-year-old married father of two daughters, both of preschool age. In order to make money, Akjoltoi and his wife sell sunflower seeds at the market. With money received from the loan he wants to purchase dairy products to resell at higher prices in the market. In the future he wants to purchase a vehicle.
Talyp A., 50, is married and has two daughters and three sons. The first daughter is married and lives separately with her family; the second daughter is at school, and the sons are working. Four years ago, with the initial investment of 12000 soms, Talyp started wholesaling bottles. In this way he makes 6000 soms per month. With money received from the loan he wants to purchase 25000 bottles in order to resell them at a higher price to the factories. In the future he wants to expand his business and improve his family's living conditions.
--- 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