Update on TsetsegmaaMrs. Tsetsegmaa, 43, runs a grocery store in addition to her clothing business, which she started in 2010. She lives with her husband and her two daughters in a ger, a traditional Mongolian dwelling, in the suburbs of Ulaanbaatar. Her husband makes a living transporting freight.
Tsetsegmaa is requesting a loan to buy additional stock for her grocery store. She believes that this will increase her sales volume and earnings. This her second loan, and she successfully repaid her previous loan on time.
Previous Loan DetailsMrs.Tsetsegmaa is 42 years old and lives with her husband and two daughters in Ulaanbaatar, the capital of Mongolia. Both of her daughters attend secondary school while she earns a living running a grocery. She has been in this business for nine years and her shop has grown in recent years.… More from Tsetsegmaa'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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