Busara J., 47, is a leader of this group. She is married to a farmer and has a twelve-year-old daughter. She started her business of milk production in 2003 and hasn’t regretted it at all. First she purchased a dairy cow and sold the generated milk to friends from the neighborhood every morning. Busara's business became so popular in the neighborhood that she had to buy more dairy cows in order to generate more milk. Soon local ice-cream and cake producers started purchasing her milk on a regular basis. They liked high quality of this raw material. The next idea was to diversify her products. Busara bought new equipment for making high sorted cheese, sour cream and butter. She loved how everything worked out and sold all of her products almost immediately. The reason Busara applied for this loan is that she’s in need of new equipment for making milk products because her old one is getting exhausted. Busara’s dream is a two-storied big house where her daughter would be happy to live.
--- 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