Gulnarkan K., 50, is a leader of this group. She’s a resident of one of the five largest towns in the Jalalabad province. She lives with her husband, who is a private entrepreneur as a city cab driver, and with a 16-year-old daughter, who goes to high school.
Gulnarkan has always been characterized by her friends and relatives as a person with a fighting spirit and a big desire to move forward. She says these precise features helped her to start up a women’s apparel retail business. Being a business-lady, she truly realizes the importance of the environment in business. She always hopes to have political and economic stability in Kyrgyzstan. This knowledge is due to her original profession in economics. Many years ago she used to work as an economist in a plant, but soon it stopped functioning and forced her to go into the business sphere.
Six years ago, Gulnarakan spent 300,000 soms form the family budget to build a shop. She attaches high importance to how the shop looks and has decorated it carefully. Now she gains the fruits of her labor by 15,000 soms of monthly income.
Gulnarkan applied for this loan with the belief that it’ll help her to increase her stock. The generated revenue will be spent on construction of a house.
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 "P" 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.
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