As their children grow, their expenses grow too. Therefore, in order to provide for all the members of the family, Gulnara decided to start cattle breeding. She is applying for a loan to buy cattle that she is planning to fatten and sell at a higher price. With the profits, she is planning to continue construction of her new house and improve her family’s living conditions.
The other group members are:
Ryskul K. K. is the treasurer of the group. She is twenty and single. She already applied for a loan before and used the loan to buy cattle for breeding. She successfully resold the cattle at a higher price after fattening and repaid the loan. Now she wants to continue cattle breeding and therefore is again applying for a loan in order to buy cattle for fattening and sale. She plans to spend the profits from cattle breeding on the purchase of more cattle for breeding. This is how she plans to significantly increase the number of her cattle.
Alymkul K. is fifty and married. She has five children: her sons are fifteen and twenty-five and her daughters are twelve, twenty and twenty-four years old. Her husband is veterinarian. She is also engaged in cattle breeding. Now, she plans to increase the number of her cattle. Thus, she is applying for a loan that will help her to buy cattle for fattening and sale. She plans to divide the profits from cattle breeding and use part of them on the payment of her daughter’s tuition fees to the institution of higher education and another part on the purchase of more cattle.
Aida Z. is thirty-three and married. She has two children: her daughter is ten and her son is twelve. Both of them go to school. Her husband is a builder and Aida is a teacher at the local school. Still, they decided to breed cattle two years ago in order to make additional income. They applied for a loan and bought cattle. However, they want to continue to increase the number of their cattle and therefore they are applying for a loan. With the profits from cattle breeding, Aida wants to reinvest in cattle breeding and spend some on the continuation of her house construction.
--- Where Did This Loan Come From? ---
This loan is brought to you by Mol Bulak Finance, a young and ambitious socially-focused MFI in Kyrgyzstan.
Mol Bulak Finance is strongly committed to the principles of sustainable development on the basis of the 3-Ps concept - People (building human capital and taking care of its customers and the society as well), Profit (to be profitable in order to grow further) and the Planet (taking care of the environment). It is also the only MFI in Kyrgyzstan that delivers its services to customers 365 days a year. To learn more about Mol Bulak and view a video presentation about the organization, please visit: www.kiva.org/about/aboutPartner?id=135.
If you would like to support and learn more about Kyrgyzstan and micro-finance in Central Asia, please join our Lending Team - Supporters of Kyrgyzstan - at www.kiva.org/team/kyrgyzstan. Members will get special updates and news from the Kiva Fellows in Kyrgyzstan and from Mol Bulak 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