Update on LegjiimaaLegjiimaa is 39 years old and lives with her husband and four children in a ger (Mongolian yurt) in Selenge Province, Mongolia. Her husband helps with her business, her older daughter is a university student, and the other children attend a local school. Legjiimaa started her grocery product trading business in 1992. She runs her outdoor business whether it's blistering cold or steaming hot outside. She knows exactly when and where to run her business. Over the years, she has gained many regular customers. Now that her business is running well, she needs to buy a mobile cart and some additional supplies in order to run her business at its full potential. She's strong woman who's requesting 1,500,000 MNT to purchase more supplies.
Previous Loan DetailsLegjiimaa B. is 37 years old and lives with her husband and four children in the Selenge province of Mongolia. She and her family live together in their own apartment. All four children attend a local school. Legjiimaa and her husband operate a grocery sales business in their town, selling a vari... More from Legjiimaa'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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