Gulkaky S. is the leader of the group. She is 55, married and has one son of school age. Gulkaky started her milk-selling business by purchasing a milch (dairy) cow. Today, this activity brings her about 2,500 Kyrgyzstan Soms (KGS) monthly.
Gulkaky applies for a loan to buy one more milch (dairy) cow, which will allow her to increase the amount of milk for selling. With the revenues, Gulkaky plans to give a good education to her son. She also wishes to take her family on a good vacation some day.
Roza M. is 49 years old, single and has one son, who is 8 years old. She has been engaged in cattle breeding for 15 years. Roza started her business with her initial investment of 3,000 KGS. She plans to use this loan to purchase two bull calves for fattening and reselling.
Chinarkul C. is 28, divorced and has one son. Seven years ago, in order to meet the expenses of her small family, she started her business in cattle breeding. She milks cows and sells dairy products to loyal customers. Using this loan, Chinarkul plans to buy two bull calves for fattening and reselling.
Chingiz T. is the youngest member of the group. He is 22 years old and single. He works in a confectioner's shop and helps his parents with animal breeding. Chingiz began his own business in fattening cattle five years ago. He also wants to obtain a loan to buy two bull calves for further reselling.
Bai-Tushum and Partners uses Kiva funding to target the especially vulnerable population. Bai-Tushum and Partners is one of the leading microfinance institutions in Kyrgyzstan. As a reliable financial partner, Bai-Tushum contributes to the economic development of the Kyrgyz Republic through the delivery of microfinance services in rural and urban areas that lead to increased employment and meet the interests of its clients and investors.
About Bai Tushum Bank CJSCBai Tushum Bank CJSC is a microfinance bank in Kyrgyzstan offering clients a range of products including loans for business development, trade, production, leasing, mortgage, consumption and more. Its portfolio is mostly comprised of group loans that cater to the broadest population of clients. Kiva lenders’ funds help the bank expand its services in remote areas to impact even more vulnerable communities in Kyrgyzstan.
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