Asel M. is the treasurer of the group. She is 36 and married. Together with her spouse, who is a farmer, they are raising three children; their sons are schoolboys and their daughter goes to kindergarten. 15 years ago, the head of the family privatized a building, which later was reshaped into a café. Now this café is the main source of family income. Out of the profits they have managed to purchase a house. The family hopes to get a loan in order to buy some café implements. In future Asel is planning to develop the business further.
Berdibek J., 49, married. His wife earns her living by working in a shop as a saleswoman (she earns 2500 soms per month). The couple has 2 sons; both of them are schoolboys. Berdibek supports his family by working as a watchman at a petroleum station, besides he is an MIA pensioner, and on the basis of this fact gets a pension benefit. His total earnings are about 10,000 soms per month. During 5 years of working hard, the family has managed to increase their herd of cattle. The loan purpose is to purchase cattle for fattening. In future Berdibek is planning to buy a house and a car.
Sagynbek I. U., 54, is married. Together with his wife he runs their own family business. As his wife has vocational education, they rented premises and opened a pharmacy. I.’s duty is helping his wife to transport medicines. The family wants to use the loan money for commodity circulation. In future they are planning to purchase a car and to expand the business even more.
--- 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) and 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 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