Mamlakatkhon is the leader of this group. She is 47 and married to a farmer. Together with her husband, she has raised a daughter and a son. The son, 26, works in Russia and the daughter, 16, studies at school. Malakatkhon works as a librarian at school. At the moment the family keeps three cows, and the profits gained from milk sales help the family meet their daily needs. Selling the dairy products, the family makes an additional $55 per month. Mamlakatkhon applied for the loan because she needs money to purchase a calf in order to increase the number of cattle stock. In autumn she plans to celebrate her son’s wedding.
--- Where Did This Loan Come From? ---
This loan is brought to you by Mol Bulak Finance (MBF), a young, ambitious and socially-focused Micro-finance 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 Micro-finance Institute in Kyrgyzstan that delivers its services to customers 365 days a year.
If you would like to support and learn more about Kyrgyzstan and micro-finance 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.