Update on NyamdavaaNyamdavaa is a 36-year-old married woman who lives with her daughter in Ulaanbaatar city, Mongolia. Her husband works in Korea. Her daughter attends a local high school. Nyamdavaa supports her family by operating a retail clothing stall in the largest outdoor market in Mongolia. When she first began her business in 2002, she had 2,000,000 Mongolian tugriks (MNT) in working capital. Today it’s increased and become 3,100,000 MNT in working capital.
This is the second time that Nyamdavaa has requested funding from Kiva and she is really thankful to all Kiva lenders for giving her an opportunity to increase her working capital. With this loan of 1,500,000 MNT, Nyamdavaa will purchase more products for the upcoming season.
Previous Loan DetailsNyamdavaa is 36 years old and lives with her daughter in Ulaanbaatar, the capital city of Mongolia. Her family does not own their apartment yet, but they have a mortgage loan from another bank in order to eventually own it. She has been on schedule with her mortgage loan payments to date. It is her… More from Nyamdavaa'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