She applied for the loan because she needs money to purchase products in order to increase the turnover of her business. In the future, she wants to open her own restaurant.
Klara A. is the treasurer of the group. She is 30 and married. Her husband works in construction. Together they bring up two sons. Klara is engaged cattle breeding and with money received from the loan, she wants to purchase hay for the cattle.
Joldoshbek A., 32, is married. He has two children. A year ago, Joldoshbek started to provide shoe-repairing services. With money received from the loan, he wants to purchase materials needed for repairing shoes.
Gulmira T., 44, is married. She has four children. Her husband works in Russia. In order to make money, Gulmira breeds livestock and then resells them at a higher price. Her loan purpose is to purchase goats 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