Update on BayasgalanBorrower Bayasgalan is a thirty-four-year-old married woman who lives with her family in a district without basic infrastructure near Ulaanbaatar, Mongolia. Bayasgalan supports her family, by operating a clothing retail stall business at the largest outdoor market in Mongolia. She has been doing this for eight years. She sells clothes which she imports from Ereen, a border city between Mongolia and China.
Though she is still paying back her previous Kiva loan, she is requesting an additional loan of 1,200,000 MNT (Mongolian Tugriks) to purchase more clothing for the spring and in order to increase her working capital after a traditional Mongolian holiday.
This is her third Kiva loan and she is one of the very trusted and repeat clients of Transcapital CoLtd., who is thankful to all the wonderful Kiva lenders in the world.
Previous Loan DetailsBorrower Bayasgalan is a 33-year-old married woman who lives with her family in a district without basic infrastructure near Ulaanbaatar, Mongolia. Bayasgalan supports her family, by operating a clothing retail stall business at largest outdoor market in Mongolia. She has been doing this for ... More from Bayasgalan'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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