Shairkul is married and has four children. She works as a cook in the hospital and earns 1,400 soms monthly. She and her husband are representative of traditional Kyrgyz families: they live together with her husband’s parents and breed cattle. They are almost fifteen years into their cattle breeding business. They started their business with an initial investment of 15,000 soms and it now brings 11,500 soms monthly. Now, they have bought a car for her husband and he is working as a taxi driver with an income of 10,000 soms.
Shairkul and her husband realize the crucial role of education and want to give to their elder daughter an opportunity to study at an institution of higher education. Thus, they are asking for a loan of which the most part will go for the payment of the tuition fee for their daughter’s education and the another part will go to the purchase of hay for their cattle in order to continue their cattle breeding business.
The other group members:
Kului S. is the treasurer of the group. She is 49 and married with two sons: her elder son lives independently; her second son is 16 and is going to graduate from school this year. Kului works as a cook in the hospital and receives 1,800 soms monthly. Her husband is mainly involved in their family cattle-breeding business but also makes some money as a builder. They started their family cattle breeding business nine years ago with an initial investment of 5,000 soms. Now, they have significantly increased their livestock population and their business brings them 7,800 soms monthly. Together they have built a house for their elder son and he lives there with his wife. Now, their daughter is planning to get married. With the loan, Kului is planning to buy a dowry for her daughter.
Azamat S. is 27 years old and is single. He works as a masseur in the hospital and receives 2,000 soms monthly. He bought an area of 0.7 hectares (1.75 acres) under crops. He started his business seven years ago with an initial investment of 10,000 soms and it now brings 5,100 soms monthly. Azamat wants to have a beloved wife and many children. Still, before getting married, he wants to build a house where he will live his happy married life with his family. He is asking for a loan which will help him to buy construction materials to build a house and his future.
Nurzat A. is 40 and married. She is a nurse at the central hospital and receives 3,200 soms monthly. She has two daughters: her elder daughter is 16 and is going to graduate this year and her youngest daughter is 13 and goes to school. Nurzat’s husband is a farmer and their family business gives them 11,000 soms monthly. As with other mothers, she wants to give the best to her daughters. Thus, she is applying for a loan in order to pay the tuition fee of the institution of higher education so that her daughter has an opportunity to study and become a qualified specialist in the future.
--- Where Did This Loan Come From? ---
This loan is brought to you by Mol Bulak Finance, a young and ambitious socially-focused MFI in Kyrgyzstan.
Mol Bulak Finance is strongly committed to the principles of sustainable development on the basis of the 3-Ps concept - People (building human capital and taking care of its customers and the society as well), Profit (to be profitable in order to grow further) and the Planet (taking care of the environment). It is also the only MFI in Kyrgyzstan that delivers its services to customers 365 days a year. To learn more about Mol Bulak and view a video presentation about the organization, please visit: www.kiva.org/about/aboutPartner?id=135.
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 - at www.kiva.org/team/kyrgyzstan. Members will get special updates and news from the Kiva Fellows in Kyrgyzstan and from Mol Bulak 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