Monday, November 2, 2009

Mol Bulak Finance

Mol Bulak Finance

Gulmira is the leader of this group. Having been married for 17 years, Gulmira and her husband have raised three splendid children. The eldest son, 16, and the middle one, 14, go to school. The youngest is just one and half years old. Gulmira’s husband is a policeman. Gulmira works as a governor at the hospital. She has decided to apply for this loan to buy a new bedroom suite.
Mol Bulak Finance is strongly committed to the principles of sustainable development on the basis of 3-Ps concept - People (building human capital and taking care of its customers and the society as well), Profit (to be profitable to grow further) and the Planet (taking care of the environment). It is also the only MFI in Kyrgyzstan who delivers its services to customers 365 days a year. Click Here to learn more about Mol Bulak and view a Video presentation about the organization:

"Virgen de Concepción"

"Virgen de Concepción"

"Virgen de Concepción" ("Immaculate Conception") is the name for this group of 14 members who have dedicated a large part of their lives to selling all kinds of merchandise. For example, Francisca Gil makes a living, along with her husband, buying plastic cones used to package threads and strings, and then when they have enough, they resell it to the factories to recycle. Her fellow members have other activities such as, selling fabrics, making vests and jackets, selling groceries and selling condiments and other items. The members attest they need to purchase merchandise, and in this way they will obtain more resources for their family's well-being.

Kisiwani Group

Kisiwani Group

Garlos will share this loan with the members of his group, Kisiwani. The sixteen group members run a variety of small businesses, from clothes shops, to vegetable and fruit "table top" stands, to carpentry businesses. The members of the group will hold each other accountable for paying back their loans, meeting once a week to make repayments and discuss their businesses. In the picture, Garlos is third from the left wearing a white shirt and looking over his shoulder.

Wednesday, September 30, 2009

Employee Deductions

Brian has informed me that Alberta Ingenuity is open to an Employee Deduction program. I will be building a form, with Brian's assistance, to allow for a monthly deduction of 1, 2, 3, 4, 5, 10, 15 or 20 dollars.The deduction will be used by the AIKIP project to lend. Check back here for an update!

Our First Two Kiva Loans

Great News everyone! Two separate $25 loans have been made.
(The AIKIP has $13 remaining to be lent in the next round because each loan has to be a multiple of $25)

The Ladies of Nahualate Village

This group of five ladies, who reside in the coconut sector Nahualate Village, San Antonio Suchitepequez were presented to the Association requesting a credit ASDIR pode starting a business, because in the situation where they were not responsive to the needs which were the simple reason that they did not have sufficient financial resources and this meant that they could not cover home that was generated as to what their husbands earn enough to monthly necessary to give their children and give them a quality of life. Which took the initiative to start a small business selling clothes, selling fruits and staples, and they see the need for a loan to continue with these businesses and the only way to improve living conditions for their families, are well known and honorable people in the community for their participation in activities, collaboration and especially for his responsibility in the community.

The Group of 15

The Community Bank "Los Esperanza Dos" is represented by Neli, and it is made up of 15 other members who sell vegetables, clothing, prepared foods, and provide public transportation as well as construction services. There is a great deal of competition in the market but the members are highly experienced and they know how to prosper their businesses, offering variety and quality in their products. The loan they have requested will be used as working capital to invest in their small businesses, to improve their earnings. This all translates into a better quality of life for their families, seeing improvements day after day. They are very grateful for the trust that has been given them and will work even harder than before. The members are currently on their first loan cycle but they have participated in groups before. They promise to give all that they have to prosper their businesses responsibly.

Tuesday, September 22, 2009

Lottery Group Dontaion

Thank you to the members of the recent lottery group who won $18. The $18 was donated to the AIKIP and will be used in our first loan. This brings our total amount to $63

Saturday, September 19, 2009


Social Responsibility

What is AIKIP?
AIKIP stands for "Alberta Ingenuity Kiva Investment Project" - The project consists of members of Alberta Ingenuity, but is not necessarily sponsored or supported by the organization. These members invest small monthly donations towards a united Kiva loan.

What is Kiva?
I was recently on the Best Websites page reviewing websites of interest. One of the websites listed was Kiva is a "unique peer-to-peer lending site that focuses on microloans, Kiva lets lenders pledge funds — from $25 and up — to entrepreneurs in developing countries."

How Did I Get Involved?
For our most recent anniversary gift, my wife and I decided to 'donated' $25 a month to the Kiva project. I quote 'donated' because even though the money is eventually returned (it is a loan after all), our plan is to continue to roll returned loans in to new loans. We don't expect to receive any portion this donation back and, should we discontinue our involvement with Kiva, we will donate the money to a cause similar to the projects Kiva is currently supporting.

How Is AIKIP Involved?

Ingenuity staff have been interested in donating money to this project as well and I have decided to initiate the "Alberta Ingenuity Kiva Investment Project".

After having a brief discussion with our CFO, I have decided to collect donations of between $1 and $20 to be used towards Kiva loans. I will keep track of each person's contribution and provide a monthly statement including information about new loans, existing loans and returned loans. If I can collect even one dollar from 25 people a month, that will be enough to make a Kiva loan and make the project personally worthwhile.

Money contributed  to this project is donated. Even though people who receive Kiva loans will eventually pay the loans back, we will reinvest returned loan money in to new loans. Should the Kiva or AIKIP projects be discontinued, all invested money will be converted to a donation to an organization assisting people in developing counties (such as potentially World Vision)

The Kiva loans are 0% interest. The best return we can expect is to get our loan money back. :)

By the 10th of each month, I will provide all stakeholders with a "statement" including information on
  • Additions to the fund (Total amount contributed that month)
  • New loans describing the purpose of the loan and a bit of information regarding the borrower
  • Loan repayments (as Kiva borrowers return money we will be informed of who and how much is being repaid)
  • Existing Loans (information of how funded projects are proceeding)
  • The number of shares you have invested and how many total shares are in the investment. (Shares will be measured, initially, as $1 per share.)
 If you are interested in investing in this project, please bring your contribution to me by the end of each month.

This blog will be used to share general information about the Kiva projects were are supporting and a monthly update of how the Investment is standing. Additionally, as emails come in from Kiva and the borrowers, I will provide updates here.

I appreciate the investments made by members already.