Mol Bulak Finance, a field partner of Kiva in Kyrgyzstan, describes such women as a basic foundation for building a steady nation. Jumagul is currently the most successful entrepreneur in the area. Her small business specializes in cattle market and dairy products. At the moment she handles the reselling of at least twenty heads of cattle monthly and generates 2,000 soms. The story of Jumagul started in 1991, after the collapse of the Soviet Union. She saved just enough to purchasing sheep. Gradually she broadened the household and her business prospered. The distribution of her milk products additionally brings 3,750 soms monthly.
Jumagul would like to use the loan from Kiva to purchase additional sheep because they have high demand. Jumagul has many plans and wishes for the future including providing an education for her children, finishing the construction of her house and the purchase of 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 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