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Olmaskhan's Group
In this Group: Olmaskhan , Nurjamal, Jyldyz
Olmaskhan B., the 42-year-old leader of this group, lives with her husband and 11-year-old daughter in the small town of Karabalta. Twenty years ago the family was in a desperate economic state, experiencing great difficulty in covering basic living costs. The development of microfinance in Kyrgyzstan pulled her out of this situation when Olmaskhan received a loan in 1991 to start up a business. Purchasing potatoes seeds which she then planted on her small piece of land, she achieved a rich fall harvest.



Agriculture has helped the family improve its living conditions, buy an automobile, and increase the number of cattle the family owns. A monthly income of 6,000 soms, however, is not always sufficient to cover all costs, so Olmaskhan is now requesting a loan from Kiva to pay for the services of a tractor driver and other operating expenses. Olmaskhan hopes to get enough profit so that she can give a good education to her daughter.



--- 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.

Additional Information

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.

About Kyrgyzstan

  • $2,100
    Average annual income
  • 126
    View loans »
    Kyrgyzstan Loans Fundraising
  • $9,533,250
    Funds lent in using Kiva
  • 47.0
    Kyrgyzstan Soms (KGS) = $1 USD

Success!! The loan was 100% repaid

A portion of Olmaskhan's Group's $1,075 loan helped a member to pay for the services of a tractor driver.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 28, 2011
Listed
Apr 15, 2011
Currency Exchange Loss:
Possible
Ended:
Oct 15, 2011