Update on OtgonjargalOtgonjargal is a 41-year-old widow who lives with her two sons and a daughter in an outer district (without basic infrastructure) of Ulaanbaatar, Mongolia. Her elder son attends university; the other two attend secondary school.
She supports her family by operating a retail business, which she has had for eight years. First, she operated a telephone business where customers paid money for using her telephones. In 2005, she began operating a small kiosk. She sells some grocery products and, in the winter, firewood. Because Mongolian weather is very changeable, it is cold beginning in October. Therefore, she needs to buy firewood to sell.
Otgonjargal is requesting a 1,200,000 MNT loan to purchase necessary grocery products and some firewood to sell at her small kiosk. Her long-term dream is to expand her small business and to own a big grocery store.
Previous Loan DetailsOtgonjargal is 41 years old and lives with her husband and three children, aged 7 to 18 in Ulaanbaatar, the capital city of Mongolia. Her family lives in a small house in the outer ger districts of the city. Her oldest son studies at high school and her daughter and younger son attend secondary a... More from Otgonjargal's previous loan »
About TranscapitalTranscapital 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.
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Success!! The loan was 100% repaid