Update on NadmidsurenNadmidsuren, 45 years old, lives with her husband and two children in a house in Uvurhangai province of Mongolia. Her husband has a taxi business and her children are in university. Nadmidsuren started her clothes retailing business in 2003. With the profit she made from the business, she purchased a new house and a shipping container to house the business. Her business is sustainable. She would like to expand her business by increasing the variety of goods she sells.
Nadmidsuren needs 3,500,000 MNT to purchase more goods because the school season will soon begin. She is a hard-working woman who says, ''I will spend the profit from my business for my children's tuition.''
Previous Loan DetailsNadmidsuren is 44 years old and lives with her husband and two kids in a ger (a Mongolian yurt) in Uvurhangai province, Mongolia. Her husband is a taxi driver and her two kids are college students. She started her garment retailing business in 2003 by renting a counter in a market. Her… More from Nadmidsuren'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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Success!! The loan was 100% repaid