Update on NarantsetsegNarantsetseg is 40 years old and lives with her husband and two sons, who are 18 and 20 years old, in Ulaanbaatar, Mongolia's capital. Her family lives in a ger (or traditional nomadic tent) in the city's outer districts. Her husband works as a guard in a local shop. She supports her family by running a shop that sells books and magazines in the town's largest indoor market. When she first began her business in 2003, she had 2,000,000 tugriks (MNT) in working capital. Now she has 5,500,000 MNT and sells pre-paid phone cards as well as books, magazines and newspapers. Narantsetseg is applying for a loan for 2,000,000 MNT to buy more items to sell to her customers. Her goal for next year is to improve her business by expanding her stall and increasing her working capital. This will help her attract more customers.
Previous Loan DetailsNarantsetseg is 40 years old and lives with her husband and two sons, ages 18 and 20, in Ulaanbaatar, the capital city of Mongolia. Her family lives in a ger [traditional nomadic tent], in the outer ger districts of the city. Her husband works as a guard at Narlag shop, while both sons attend... More from Narantsetseg'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