Aijan T. is the treasurer of the group. She is 24 and married. Her spouse is a medical worker; he earns money by working as a bone-setter at a salary of 8,000 soms. The couple has a daughter; she is a toddler. Today, Aijan keeps house and brings up the baby. The family by now has managed to obtain furniture. They need a loan in order to buy building materials for a household room. Aijan, with her husband, dreams of opening a big workshop.
Turatbek K., 53, is married. His wife has a profession of a garage security guard at a salary of 1500 soms per month. The couple is raising a son, who is a schoolboy. Turatbek supports his family and enriches its funds by fishing and cattle breeding. Two years ago, after having obtained two sheep, he started this kind of business. By now, he has managed to buy a laundry machine. The loan's purpose is to buy two sheep for stock increasing. In the future, he wants to be able to afford a refrigerator.
Mahabat O., 32, is married. Her husband works as a refueling operator; by doing this, he makes some money (5000 soms). The couple has two children. Their family gets their main income from cattle breeding. This started two years ago after they purchased three calves. So by now, out of the profits, they have managed to do house repairs. The loan's purpose is to install new gates. The family is planning to pay off the loan from earnings out of the resale of cattle. In the nearer future, Mahabat wants to equip the house and buy furniture.
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.
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Success!! The loan was 100% repaid