Aizada S. K., the 34-year-old treasurer of this group, is married and has two young sons. Her husband works in transportation services, while she has been involved in the retail of women's apparel in a local market for eight years. When he’s free from work, her husband tries to substitute for her at work so that she can spend more time at home with the children.
Starting this business with a loan of 20,000 from a local bank, Aizada's good management enabled her to quickly repay the loan. She currently earns a monthly income of 7,800 soms and has thus far been able to purchase nice furniture for their house.
With the loan she is requesting from Kiva, Aizada plans to purchase more goods and diversify her assortment. The anticipated profit will be spent on purchasing a permanent place for retail in the market and an automobile.
--- 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