Update on PurevsurenMrs. Purevsuren earns a living by making winter clothes for babies and casual clothes for men and women which she sells in a local outdoor market. She lives with her son and mother in the ger (or nomadic tent) area of Ulaanbaatar, the capital of Mongolia. Her son attends a secondary school and her mother is a pensioner. Mrs. Purevsuren's business is the main source of her family's income. She started her business in 2002 with little money, but her sales volume has expanded to the point where she has many permanent customers. She gets the raw materials she uses to make her clothes from domestic suppliers and abroad. Mrs. Purevsuren wants to increase her output and business earnings. To make this possible, she is requesting a loan which she will use to buy more raw materials and some clothes from her suppliers. Her goal for the future is to own a clothes shop in downtown Ulaanbaatar.
Previous Loan DetailsPurevsuren is a 33-year-old divorcee, and she lives with her son and mother in her own private fenced house in Ulaanbaatar, the capital city of Mongolia. She is a woman who works hard for her family. Since 2001, she has been selling different kinds of clothes including outerwear, like kids' coats.… More from Purevsuren's previous loan »
About Credit MongolCredit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.
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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