Update on PurevdorjPurevdorj is 22 years old, a young father who is trying to build a life. His wife is a student.
He has been working in an auto service called “Sky” as a serviceman since this January. He works from 10 a.m. to 9 p.m. and has just one day off each week. When he accomplishes his work well, he is rewarded by 10 percent of his salary as an encouragement.
Just a year ago he became a father, and now he should increase his income in order to rear their child. This time he is requesting a loan to cover the remaining cost of his purchased car. He will use his second-hand car as a taxi beyond his job.
Previous Loan DetailsPurevdorj is 21 years old, a young father who is trying to build a life. His wife is a student. He has been working in an auto service called “Sky” as a serviceman since this January. He works from 10 a.m. to 9 p.m. and has just one day off in a week. When he accomplishes his work well, he is... More from Purevdorj'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