Update on AdyajavAdyajav is 39 years old and lives with her husband and two children in a ger, a traditional Mongolian nomadic tent. She lives in Ulaanbaatar, the capital city of Mongolia. Adyajav's two sons attend local secondary school and her husband delivers stationery to vendors who operate market stalls. For the past seven years, Adyajav has been operating a taxi business and she has gained much experience. She is planning to expand her business and says, "I have a dream to have my own grocery store one day to ensure my children’s future life."
Adyajav has been building her grocery store in her backyard. She is requesting a loan to buy the materials needed to complete the building for her store. In the future, Adyajav thinks her grocery business will be very helpful to her and her family to improve their life in the future.
Previous Loan DetailsAdyajav is 37 years old and lives with her husband and 2 children. They live in ger, the traditional Mongolian nomadic tent, in Ulaanbaatar- the Mongolian capital city. Her two sons attend local secondary school. Her husband delivers stationary to people who operate stalls in the market. Adyajav… More from Adyajav'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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Success!! The loan was 100% repaid