Update on BaasansurenMrs. Baasansuren, age 30, runs a business selling clothing in one of the supermarkets in Ulaanbaatar, the capital city of Mongolia. She lives with her husband in the ger district. A "ger" is a traditional Mongolian nomadic tent, and the ger district is an area of the city with no running water, minimal roads, and spotty electricity.
She has been engaged in her business for three years, operating from a rental stall. She is requesting a loan to cover the cost of purchasing a car. Her husband will use it to run a taxi business as well as to help his wife transport her clothing items to the workshop.
They have already saved some of the money needed to purchase the car, and Mrs. Baasansuren is requesting a loan in the amount of 2,500,000 MNT to cover the remaining costs. Having this car will allow both of them to execute their business activities and earn a more profitable income together.
Previous Loan DetailsMrs Baasansuren is 29 years old and lives with her husband and her mother-in-law in Ulaanbaatar, the capital city of Mongolia. She sells clothes in the market called Narantuul, which is located in the boundary district of Ulaanbaatar. She has been selling clothes for three years and she has gain... More from Baasansuren'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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