Update on AmgalanAmgalan is 48 years old and lives with her husband and six-year-old granddaughter in a ‘ger’ (Mongolian traditional felt tent) in a suburb of Ulaanbaatar, the capital city of Mongolia. Her husband, Altangadas, helps her to run the business and her granddaughter attends a local primary school.
She started to run her own business at Narantuul in 2000, the largest outdoor market of Mongolia. Amgalan makes curtains, felt covers (for Mongolian gers) and kids’ shoes at home and sells them at Narantuul. The business profitability is relatively high during the spring and summer seasons. Today, she has working capital of 5,000,000 MNT (Mongolian Tugriks) and hopes to increase it in the future.
She is requesting a loan of 2,000,000 MNT to purchase more materials to make curtains and felt covers. By doing so, she can increase the number of products she has available to sell, which will later help to develop the business. Her aim is to have her own large capacity workshop, where she can manufacture more products.
Previous Loan DetailsAmgalan, age 47, lives with her husband and 6-year-old granddaughter in a ‘ger’ (Mongolian traditional felt tent) in a suburb of Ulaanbaatar, the capital city of Mongolia. Her husband, Altangadas, helps her to run the business and her granddaughter attends local primary school. Amgalan is a ... More from Amgalan's previous loan »
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.
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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