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Battsetseg

Update on Battsetseg

Battsetseg wants to expand her business into frame crafting. She will open her frame craft shop this April and plans to purchase all of the equipment from abroad. It is a big business expansion for her selling business. Recently she has finished her workshop adjustments and decorations. Now she needs money support to purchase the equipment for preparing her frame craft workshop.

Previous Loan Details

Mrs.Battsetseg is 34 years old and lives with her husband and four teenage children in rented house in Ulaanbaatar, the capital city of Mongolia. A few years ago she married her present husband and at that time they had two children each. They had to start a new life together from scratch. In ... More from Battsetseg's previous loan »

Additional Information

About Credit Mongol

Credit 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.

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,410.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Battsetseg to purchase the equipment needed to prepare her framing workshop.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 23, 2012
Listed
Jan 27, 2012
Currency Exchange Loss:
Covered
Ended:
Sep 17, 2013
This photo was used before for a previous loan for Battsetseg. It was first posted on Kiva on Apr, 2011. Learn More