Update on OyunbatOyunbat is a 47-year-old woman who lives with her husband and a son in the suburban district of the capital city of Mongolia. She used to trade meat products at the market but now she delivers freight. She has been using her brother's truck for the business and this developed her household and she is increasing her income little by little. Her customers are appreciating the service and it is considered to be a reliable business.
Oyunbat is a diligent woman who says that she would like to develop her business activity by buying her own truck. She wants to improve the household with her husband. The total amount she is requesting is 2,000,000 MNT to buy a fence for her family.
Previous Loan DetailsOyunbat B. is 45 years old and lives with her husband and son in the bayanhoshuu of Ulaanbaatar: Mongolia's capital city. She and her family live in a ger, a traditional Mongolian nomadic tent, in a rented yard. Her husband works in his brother's business and earns 200,000 MNT per month. Oyunbat ... More from Oyunbat'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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