Update on GanmyagmarGanmyagmar, 47, is a butcher in the food market in Ulaanbaatar, the capital city of Mongolia. She has been selling meat for less than a year, and already has permanent customers.
Her main meat item is lamb, that she gets from suppliers in the countryside. Now Ganmyagmar want to increase her inventory before this Lunar New Year Day, the respectful Mongolian traditional holiday.
Because the price of lamb increases during the holiday, her sales should increase for weeks. Ganmyagmar is taking a loan to purchase a large amount of lamb and to increase her working capital.
Previous Loan DetailsMrs.Ganmyagmar is 46 years old and lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. Her eldest daughter sews in a clothing factory and her son is in secondary school. She has two more children who are grown and live separately. Her husband works as a butcher i... More from Ganmyagmar's previous loan »
About Credit MongolCredit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.
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