She and her husband also breed cattle. She started seven years ago upon the suggestion of her friend. Now, she gets 4,000 soms from cattle breeding. She applied for a loan and successfully repaid it. She could increase quantity of cattle to seven. She wants to purchase additional cattle for breeding, therefore she has applied for another loan. In the near future, with the profits from cattle breeding, she is planning to buy furniture and household appliances for the house and a bicycle for her little daughter.
- Kuluipa A. is the treasurer of the group. She is thirty-eight and divorced. She has two sons. They are thirteen and nine years old. She earns money by providing services of making capital repairs at the school. Four years ago, she decided to start cattle breeding due to the absence of employment opportunities. Right now, her profits from cattle breeding are 2,000 soms monthly. She wants to increase the quantity of cattle she owns because it would allow her to increase her profits. Unfortunately, she is not able to purchase additional cattle, therefore she has applied for a loan in order to have an access to additional funds. With the profits from cattle breeding, Kuluipa is planning to buy household appliances for her house. With future profits, she is planning to buy a one-room flat, a computer for her children, and a bicycle.
- Asanbai M. is fifty and divorced. He lives alone. Right now, he is a guard for the local administration. At the same time, he earns additional money by making capital repairs. He started providing capital repairs to peple in 2008 and he receives 2000 soms monthly additional from it. Asanbai is planning to buy construction materials and make capital repairs at his own house in order to make it more comfortable. Still, he needs money for purchases. Therefore he has applied for a loan. In the near future, he plans to start construction of new house on the area that he already bought.
- Elmira K. is forty-two and married. She has three children: her sons are twenty and twelve and her daughter is seventeen. Her elder son is a student at the Academy of the Ministry of Internal Affairs, her daughter and youngest son go to school. For the past three years she has been a farmer and cattle-breeder. She applied for a loan for 25,000 soms previously and bought cattle. She fattened and resold the cattle and made good money on it. Therefore, she decided t continue. Now, she makes 10,000 soms monthly from it. She is applying for a loan to have funds for purchasing additional cattle for breeding. With the help of the profits from cattle breeding, she will be able to pay the tuition fee for he son at the Academy of Internal Affairs. She is planning that by enlarging her cattle herd she will be able to increase her profits, and therefore pay the tuition fees of her daughter when she enters an institution of higher education. For now, her plan is to save money for her daughter's education.
--- 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 (staying 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