Update on BadamtsetsegBadamtsetseg is 45 years old. She lives with her husband, younger daughter, and granddaughter in a "ger" -- a yurt or traditional Mongolian nomadic tent, in Ulaanbaatar, the capital city of Mongolia.
Since 1999, Badamtsetseg has run a shoe business. She buys shoes from wholesalers who bring them from abroad, and sells them at the Narantuul, the largest outdoor market in the city. She rents two stalls at the market. Her husband, Enkhbat, helps in her business part-time and also runs a taxi and delivery business using the family car. Their goal is to accumulate enough money to build a family house in the future and to give a proper education to their children. Badamtsetseg has a two daughters. Her older daughter, a university graduate, lives separately with her husband. The younger one is a university student.
With this loan, Badamtsetseg wanted to purchase more shoes inventory and to increase her business working capital, as she believes it is important to expand her business further.
Previous Loan DetailsMrs.Badamtsetseg is 43 years old. She lives with her husband, younger daughter, and granddaughter in "ger," a yurt or traditional Mongolian nomadic tent, in Ulaanbaatar, the capital city of Mongolia. Since 1999, she has run a shoe business. She buys shoes from wholesalers who bring them from ... More from Badamtsetseg's previous loan »
About Credit MongolCredit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.
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