Baktybek S. is 36 and married. His wife doesn’t work; she keeps house and hearth for her big family. The couple has five daughters, three of whom are schoolgirls. Now the head of the family gets an additional income by working as a taxi driver; in this way, he gets 5000 soms per month. Besides that, he breeds cattle. Baktybek needs a loan to buy his daughters' school writing materials. In the future, he is planning to build a house.
Nazgul J. is the treasurer of the group. She is 38 and married. Her husband drives a tractor and a combine. The family has five children: three sons and two daughters, all of whom go to school. Now Nazgul works as a school teacher. Apart from this, the family breeds cattle. By now, they have managed to obtain a combine. The loan's purpose is to buy cement for household building. In the future, the plan is to finish the house up.
Baktygul I., is 26 and married. Together with her spouse, who is a farmer, she is raising a small daughter. Baktygul teaches in a school. Besides that, the family makes their bread by cattle breeding. The loan's purpose is to buy three dam (female) sheep for further stock increasing. In the near future, the family is planning to begin building a house.
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 "P" 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 institution 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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