Update on TseinpilTseinpil is 53 years old and lives with her three children in a ger (a Mongolian yurt) in Uvurhangai province, Mongolia. Her eldest two children are employed, and the younger one is a student. She started her used clothes shop in 2010 by renting a counter at the market. She handpicks her products. Her income has been relatively the same since she opened her shop. Therefore, she found a bigger place to sell her clothes. She has already rented the place. Since the place is much bigger, she needs to increase her supplies in order to run her business. Therefore, she's requesting 1,500,000 MNT to do so.
Previous Loan DetailsTseinpil is 52-year-old widow who lives with her three children in a ger, a Mongolian yurt, in Uvurhangai province, Mongolia. Her younger daughter goes to a local secondary school. Tseinpil manages a used clothes trading business in her town. She started her business in 2010. Previously, she ... More from Tseinpil'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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