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Gerelmaa

Update on Gerelmaa

Gerlemaa is 39 years old and lives with her husband and two children, ages 10 and 19, in a ger, a traditional Mongolian felt tent, which is located in Ulaanbaatar, Mongolia, in an outer ger district without basic infrastructure. Her daughter is a student at the state university, and her son attends secondary school.

Gerelmaa supports her family by operating two clothing retail stalls at the largest outdoor market in Mongolia, with the help of her spouse. She started her business in 2000, specializing in the sale of women's clothes. Today her working capital is three million Mongolian tugriks (MNT).

She worked very hard the last few years, and she bought a small land plot and a car through the profit from her business. Consequently, she needs to increase her working capital and import more clothes to sell. So Gerelmaa is requesting a two-million-MNT loan to import more clothes from Ereen, a border city between Mongolia and China. With her business income, she is planning to pay her daughter's tuition fee.

Previous Loan Details

Gerelmaa is 38 years old and lives with her husband and two children, aged 9 and 18, in Ulaanbaatar, the capital city of Mongolia. Her family lives in a ger, a traditional Mongolian felt tent. Her daughter is a student while her son attends public school. Her husband is also an entrepreneur.… More from Gerelmaa's previous loan »

Additional Information

About Transcapital

Transcapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,255.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Gerelmaa to purchase more clothes to sell in order to increase her income.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 29, 2011
Listed
Oct 3, 2011
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2012