Update on TserendolgorTserendolgor is a 33-year-old woman who lives with her husband and two sons in Uvurhangai province in Central Mongolia. Her husband is an entrepreneur. Her older son goes to school and the younger son attends kindergarten
She has been running a garment and goods retailing business since 2008. She trades them at the central market of the local area. As she is giving birth soon, she is planning to get the supplies in large quantities and sell them. She has a further plan to add another sales channel to increase the sales.
Tserendolgor is an active woman who says, "I would like to expand my business by getting the supplies in large quantities and earn more for my family and new baby."
The total amount she is requesting is 1,000,000 MNT to purchase summer garments.
Previous Loan DetailsTserendolgor is 32 years old and lives with her two sons and husband in a 'ger', a Mongolian yurt, in Uvurhangai province of Mongolia. Her elder son is a high school student. The younger son attends the local kindergarten. She started her business in 2008 by selling clothes and goods at the local... More from Tserendolgor'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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