Tursun S. is the treasurer of the group. She is 52 and married. She has raised five children. Most of them are married and live separately with their families. Five years ago, with the initial investment of 50,000 soms, Tursun opened s shop and began to sell convenience goods. In this way, she makes 10,000 soms per month. Her husband is a pensioner, so when he is free, he helps Tursun in the shop. With money received from the loan, Tursun wants to purchase a variety of goods in order to increase the turnover of her business. In the future, she wants to open another store and start selling shoes.
Aida T., 40, is married. She has a son and three daughters. The son is in the army, two daughters are at school, and the third daughter is preschool age (under 7). Four years ago, with the initial investment of 20,000 soms, Aida and her husband started to sell secondhand clothes. In this way, they make 10,000 soms per month. With money received from the loan, Aida wants to purchase more clothes in order to increase the turnover of her business. In the future, she wants to expand her business and provide her children with a good education.
Jenishbek B., 66, is married. He has four daughters and a son. All the children are married and live separately with their families. Jenishbek and his wife are pensioners. But the level of the pension is low, and they can’t cover their family expenses. So Jenishbek provides electrical services and also breeds cattle. He applied for the loan because he needs money to purchase more cattle for breeding.
Medet A., 55, is married. He has two daughters and two sons. The first daughter is married and lives separately with her family and the other children are students. In order to make money, Medet and his wife breed cattle. With money received from the loan, Medet wants to purchase more cattle for breeding.
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