Update on YumjirlhanYumjirlham is a 41-year-old woman and lives with her husband and two children in Uvurhangai province of Central Mongolia.
The husband often runs a taxi service. The children study at the secondary schools.
She started a meat retailing business in 2001. Since that time, she has become very experienced and made a number of regular customers.
She wants to extend her business activity by getting the supplies in large quantities, due to the approach of the biggest festival in Mongolia when they purchase meats in large amounts.
She is a hardworking woman who says that "I want to extend the business by using the right timing and save for my daughters college fees". The total amount she is requesting is 1,700,000 MNT for the meat supplies.
Previous Loan DetailsYumjirlhan, 40, is married and lives with her husband and two daughters in Uvurhangai province in Mongolia. They live in a ger, a Mongolian nomadic housing tent, on a small plot of land that they have owned for past 10 years. Her husband operates a transportation service business, in which he uses… More from Yumjirlhan's previous loan »
About XacBankThis loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.
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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