Check out some available loans that are similar to this one!
Oyunjargal

Update on Oyunjargal

Oyunjargal has been running her tailoring business successfully. Now she desires to expand her business by enlarging the workplace and number of workers. She is requesting a loan to purchase a new multiple-operation sewing machine.

Previous Loan Details

Oyunjargal, a 29-year-old widow, lives with her two daughters in a rented one-bedroom studio in Erdenet, the second biggest city in Mongolia. Her oldest daughter, Uranchimeg, attends a local secondary school, while her youngest daughter, Tselmeg, stays at home.

Oyunjargal used to be a tea... More from Oyunjargal's previous loan »

Additional Information

About Credit Mongol

Credit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,264.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Oyunjargal to purchase a new multiple-operation sewing machine.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 23, 2011
Listed
Oct 7, 2011
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2013
This photo was used before for a previous loan for Oyunjargal. It was first posted on Kiva on Apr, 2011. Learn More