Venera K., 33, is married. Her husband is a farmer and she is a nurse, but their main source of income is farming. They have three children, all of whom are in school. They will use the loan to buy seasonal (autumn and winter) clothing for their children. In the future, they plan to widen their house or build a new one.
Kenjebek K., 42, is married. He has three children. He has bred cattle for four years. He makes additional income by working as a taxi driver. His wife is a private entrepreneur. Their hard work has enabled them to buy a car. They will use the loan to make car repairs. Kenjebek wants to give his children a proper education, make house repairs, and buy a new car.
Jumakul S., 52, is the treasurer of the group. She is a widow who is raising two daughters by herself. Both girls are in school. Her son is married. Jumakul earns her livelihood by working in laundry. She needs a loan to give her daughters a good education. In the future, she plans to build a new house.
Altynbek M., 41, is married. He has three sons, all of whom are in school. Altynbek supports his family by working in a fire company and by driving a taxi. His wife is a private entrepreneur. He wants to get a loan to use in commodity circulation. In the future, he wants to purchase a seven-passenger car.
--- 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 bottom line:
• People (building human capital and taking care of its customers as well as society),
• Planet (keeping environmentally friendly)
• Profit (earning revenue to expand autonomously).
MBF is the only microfinance Institute 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 receive 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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