Update on JaihJaih is 40 years old and lives with his wife and children in a ger, a Mongolian yurt, in Bayan-Ulgii province in Mongolia. His wife works at the local company. His two children are high school students. He started his business in 1999 by selling livestock. He has been managing the same business until now. He started the business with turnover capital of 200,000 MNT. Now this turnover has increased to 800,000 MNT. Now he owns a commercial space to sell the livestock at the local market. He is a diligent and hard working man who says, "When my business goes well and make more profits, I plan to purchase a car." He is requesting a 2,500,000 MNT loan to purchase more meat at whole sale price.
Previous Loan DetailsJaih H. is 39 years old and lives with his wife and two children in the Bayan-Ulgii province of western Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. Jaih operates a meat-trading business out of his own stall at the local market in his town. He… More from Jaih's previous loan »
About XacBankThis loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.
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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