Update on NarantuyaNarantuya is a 46-year-old married woman who lives with her husband and 2 daughters in Ulaanbaatar, the capital city of Mongolia. Her family does not own their own apartment yet, but they have a mortgage from another bank to eventually own it.
Her husband works as an engineer at a local outdoor market while her oldest daughter is a teller at a commercial bank. Her younger daughter attends university in China.
Narantuya has been supporting her family by operating a beauty salon for 12 years. Previously her youngest daughter helped her mother at the salon by giving manicures and pedicures. Now that her daughter studies abroad she operates it by herself. Narantuya’s salon offers body and head massages, facial treatments and eyebrow tattoos.
When she started her business in 2001, Narantuya’s salon was in a small space with only one massage bed. Since then, her salon has expanded to three massage beds, with a variety of other services, in a larger space than before. The salon has an average of twenty customers per day. With this loan of 1,500,000 Mongolian Tugriks (MNT), Narantuya will purchase cosmetic products to use and to sell. The loan will hopefully allow her to expand and improve the quality of her services. The salon’s extra earnings will go towards her family’s expenses and her family’s goal of being secure in their own apartment. She is a very well trusted client of our institution.
Previous Loan DetailsMrs. Narantuya is 46 years old and lives with her husband and 2 daughters 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 paym... More from Narantuya'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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