Update on ErdenesuvdBorrower Erdenesuvd is a 31-year-old single lady who lives with her younger brother in the outer ger district of Ulaanbaatar, Mongolia, in an area without basic infrastructure. Her brother runs a taxi business while she has been operating a machine and motor oil retail business since 1996.
First, when she was beginning her business she rented a small stall, but after she graduated her university in 2005, she bought her own stall. Now she has a 2.5 million MNT (Mongolian Tugriks) in working capital. “In winter season, machine and motor oil selling business is very popular, so I need more products. Unfortunately I haven’t enough money to buy, therefore I am requesting a 1.500.000 MNT loan to purchase more machine oils to sell for upcoming season,” Erdenesuvd said.
Both of Erdenesuvd and her younger brother help each other and are very hardworking people.
Previous Loan DetailsErdenesuvd is 31, single, and a micro-entrepreneur. She lives in a small house in Ulaanbaatar, the capital city of Mongolia. She studied to become a tourism manager. She sells machine oil and motor oil at her two stalls with help from her younger brother. She also helps and supports her younger… More from Erdenesuvd'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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