Update on OrkhontuyaOrkhontuya is a 29-year-old entrepreneur who lives with her husband and two children, ages 6 and 11, in Ulaanbaatar city, Mongolia. The family lives in a ger, or a traditional Mongolian felt tent, in the outer ger district of the city. Her elder son attends a local secondary school, and her daughter attends kindergarten while their father works at a geological company.
Orkhontuya supports her family by operating a women's clothing retail stall at the largest outdoor market with rental stalls. She has been running this business since 2002. In 2006, she bought a small stall and increased her working capital. Today her working capital is approximately three million MNT. Usually, she imports her products from Ereen, a border city between Mongolia and China.
Orkhontuya is requesting a 1,200,000 MNT loan to purchase a variety clothing to sell at her own small stall. “I’m really thankful to all Kiva lenders for giving me an opportunity to improve my business. I will work hard”, our trusted client Orkhontuya said.
Previous Loan DetailsOrkhontuya is a 28-year-old accomplished and hardworking young woman from Ulaanbaatar, the capital city of Mongolia. She lives in a ger, a traditional Mongolian felt tent, in the ger districts of the city with her husband and two kids, ages 5 and 10. Her husband works at a rural geology company ... More from Orkhontuya'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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