Mairambubu R., 52, is the treasurer of this group. She is married and lives with her husband and two children in the village of Kochkorka, an agricultural area with considerable trade. Her other two children already live independently and earn incomes by reselling potatoes. Mairambubu herself used to have a business, which she had to quit because of lack of capital. Now she has opened a small shop by a bus stop. She hopes this strategic location will help her gradually increase her sales. Her products mainly include drinks and snacks, which are often bought by passengers. Mairambubu’s rent payments are high, so she hopes to attract more customers and achieve more sales through attentive service and lower prices. These humble beginnings will help her secure a good life for her family members. She has already raised enough money to make her children's lives better. Mairambubu really hopes for good returns from this business and believes in success.
--- 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 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