Altantsetseg supports her family by operating a clothing retail stall at Narantuul, the largest outdoor market in Mongolia. When she first began her business, she had 1,000,000 MNT (Mongolian Tugriks) in working capital. Now she has 5,000,000 MNT in working capital. She sells jeans and trousers, which she imports from Ereen, a border city between Mongolia and China.
Altantsetseg is requesting a 1,500,000 MNT loan to purchase more jeans to sell in order to increase her jeans and trousers' variety. Her goal is to expand her business and then to be able to improve her daughter’s education. She is one of our trusted clients who is thankful to all Kiva lenders.
She is the group leader and she is raising her hand in the picture.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid