Update on GanzorigGanzorig is a 29-year-old man who lives with his wife and two children in Central Province, Mongolia. His oldest child studies at the secondary school. His wife is unemployed and stays at home with their daughter.
Since 2006, he has been running a delivery service business with his truck. He delivers coal and vegetables. He is planning to expand his business activities further.
Ganzorig is an active man who says, "I would like to expand the business activities by building a workplace for the food store. I have researched a lot on this field and am trying to build the new business successfully with the support.” The total amount he is requesting is 3,500,000 MNT to build a workplace.
Previous Loan DetailsGanzorig, 28, is married and lives with his wife and two children in Tuv province of Mongolia. They live in a house that they own. His wife is not employed and takes care of their one year old daughter. The older son attends a local secondary school. Ganzorig has been operating a coal business… More from Ganzorig'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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