Update on ErdenebaatarErdenebaatar is a 32-year-old married guy and lives with his family in a local district of Ulaanbaatar city, Mongolia. Both his son and daughter attend kindergarten, while Erdenebaatar has supported his family by operating a cashmere and wool manufacturing home business for 6 years with his wife, besides their full-time jobs at different companies.
They produce pure cashmere out of raw cashmere by themselves, so the products are completely handmade and qualified. They make various products such as baby boots, slippers, hats, blouses and so on.
The business income is considerably high during the national holiday Tsagaan Sar, which is upcoming. Therefore, Erdenebaatar is requesting a 3,000,000 MNT (Mongolian tugriks) loan to purchase a variety of raw materials in order to make more products before Tsagaan Sar, the biggest Mongolian traditional national holiday.
Previous Loan DetailsErdenebaatar and his wife started their cashmere-product manufacturing business in 2005. Besides their full-time jobs at different local companies, they manage to run their home-based business successfully.
They produce pure cashmere out of raw cashmere by themselves; hence the products are… More from Erdenebaatar'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