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Ganzul

Update on Ganzul

Ganzul is 28 years old and lives with her mother in a ger (a Mongolian yurt) in Uvurhangai province, Mongolia. Her mother is retired.

She started her hairdressing business in 2005 by renting a space in a hair saloon. She is well experienced and she is known for her flawless work.

Now that her equipment is getting old, she needs to buy new equipment for her customers' satisfaction. She is a hardworking and diligent woman who says, "I enjoy my work and I am good at it. However, my customers demand is getting high,"

She is requesting 600,000 MNT to replace her equipment.

Previous Loan Details

Ganzul N. is a 27 year old young lady who lives with her mother in a traditional Mongolian nomadic home tent, and fence in the Uvurhangai province of Mongolia. Her mother, Tsedevsuren, is 66 years old and retired. Ganzul operates a barber shop in a rented space. Her work place is located next to ... More from Ganzul's previous loan »

Additional Information

About XacBank

This 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.

About Mongolia

  • $2,175
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD