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Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
Gulzada is 40 years old, married, mother of 6 children. She works as a seamstress and takes orders at home.
Currently, she is insulating the outer walls of the house. She has also planned to have heating in the house and will be installing a heating system. This will allow her to keep the house warm and save on heating costs, as her house will warm up faster and stay warm longer.
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Translated from Russian by Kiva volunteer Liudmila Zhustareva. View original language description.
Гулзада ей 40 лет, замужем, мама 6 детей. Она работает швеей, на дому принимает заказы. Она утепляет наружные стены дома. Сейчас она запланировала провести отопление в доме, будет устанавливать систему отопления. Это позволит ей сохранить тепло в доме и сэкономить на расходах на отопление, так как её дом будет быстрее прогреваться и дольше сохранять тепло.
It is envisaged that because of the lower cost of Kiva funding, the loan product will be cheaper and thus more affordable for Bailyk clients.
It helps families improve their living conditions and reduce energy consumption by undertaking renovation (including better insulation) of their houses. This comes in a context where the quality of housing in Kyrgyzstan is quite low due to a number of factors such as: affordability of construction materials, low family income, etc. Thus, especially in rural areas, houses are mostly made of mud bricks with low isolation standards and rather high heating costs during winters.
Bailyk will be using the funds to scale its existing loan products, which are aiming at marginalized clients, especially those from rural areas. It is envisaged that by providing these loans heating costs will be reduced and the savings will be used for other family expenses such as: education, food, etc. alongside overall better living conditions.
Bailyk Finance provides entrepreneurs with access to high-quality financial products and services. Aiming to alleviate poverty, the organization helps unbanked individuals and disadvantaged groups such as women, the unemployed, and youth establish businesses in different sectors, including retail, manufacturing, agriculture, and services. Kiva lenders' funds will help the organization to expand its outreach but also to introduce new thematic areas: home improvement and renewable energy loans, which will enhance the beneficiaries ability not only to improve their living conditions but also to have substantial savings in the global context, where the cost related to energy is higher.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
Loan tags help lenders find loans that match certain areas of interest.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
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