Update on GanboldGanbold is a 40-year-old guy who lives with his three children and wife in a small apartment in a local district of Ulaanbaatar city, Mongolia. He has gained experience in the shoe sales business for more than 11 years. He rents two different stalls at the two biggest indoor markets and purchases his shoes from Ereen, a border city between Mongolia and China.
His highest beneficial months are from August until May, so he needs to buy more shoes for the upcoming season. Ganbold is requesting a loan of 3,900,000 Mongolian Tugriks (MNT) to purchase a variety of shoes to sell. He is a repeat and very trusted client who is very thankful to all Kiva lenders for giving him an opportunity to improve his business.
Previous Loan DetailsGanbold is a 39-year-old man who has experience in shoe sales business for more than 10 years. He lives with his wife and children in an apartment, in Ulaanbaatar, the capital city of Mongolia. He has a son and daughter, aged 10 and 12, who attend secondary school. Moreover, the family is welcomi... More from Ganbold'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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