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Banzragch

Update on Banzragch

Banzragch is a-34-year-old married guy who has 4 children and lives with his family in the outer ger district of Ulaanbaatar city, Mongolia.

Banzragch runs a taxi business, full day, and his spouse operates a seasonal fruit selling business. Her business continues from May 1st to October 30th. Their last year’s business income was used for house recovery.

Thus, Banzragch is requesting a 1,000,000 Mongolian Tugriks (MNT) loan to purchase a variety of fruits to sell in his wife’s small sales stall.

Banzragch is very trusted and a repeat Kiva client. This picture was captured on the 2nd of May.

Previous Loan Details

Banzragch is 33 years old and lives with his mother, wife, and his four children, ages 2 to 15, in Ulaanbaatar, the capital city of Mongolia. His family lives in his mother’s small house, in the outer ger districts of the city. His oldest son and daughter attend school, while his mother is retire... More from Banzragch's previous loan »

Additional Information

About Transcapital

Transcapital 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.

About Mongolia

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,305.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Banzragch to purchase a variety of fruits to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 25, 2012
Listed
May 7, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 15, 2012