Gulnara I. is the treasurer of this group. She is a forty-seven-year-old resident of Kochkor, a small town in northern Kyrgyzstan. She has a big asset: six children. The youngest child is now a senior in high school. Gulnara proudly claims that raising six children was her greatest accomplishment. She feels fulfilled in helping them find their own place in life.
Gulnara and her husband are skilled farmers. They say land is always the only source of income and they cannot imagine life without farming, because it’s what they have been doing their entire lives. Along with farming, the family raises and sells cattle. The family started the business fifteen years ago with only 10,000 soms. Now they have 10,000 in monthly profit. But because of inflation, this amount is not enough to purchase additional cattle and to advance the business. Gulnara hopes to get a loan in order to promote her business. Time will show if she will be able to build the house of her dreams.
--- 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