Update on OyuntsetsegOyuntsetseg is a 39-year-old woman who lives with her husband and 5 children in Uvs province in Western Mongolia. Her husband is employed and 5 of the children study at the local secondary school.
Oyuntsetseg has been running a dairy products retail and grocery trading business for 10 years. At first, she just used to trade grain flour, but now she trades different kinds of milk dairy products like milk, dried curds, fat and others. She runs the business at the shop counter. Now she needs some assisstance to purchase the supplies in large quantities.
Oyuntsetseg is an active and good-natured woman who says that "I would like to develop the business activity by purchasing the supplies in wholesale so that I could sell them in normal price and increase the volume. I have a further plan to save for my children's college and future." The total amount she is requesting is 1,000,000 MNT to buy milk products from herders.
Previous Loan DetailsOyuntsetseg S. is a 38-year-old woman who lives with her husband and five children in a ger, a Mongolian traditional nomadic housing tent, in Uvs province, Mongolia. Her four sons go to a local secondary school while the only daughter stays home. Her husband is a herder. Oyuntsetseg… More from Oyuntsetseg'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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