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Odgerel

Update on Odgerel

Odgerel is 33 years old and lives with her mother and daughter in Ulaanbaatar, the capital city of Mongolia. Her family lives in a small house, in the outer ger housing districts of the city. Odgerel’s mother is retired and stays at home, while Odgerel's daughter attends secondary school.

Odgerel supports her family by operating a clothing retail stall at the largest outdoor market in Mongolia. In 2006, when she first began her business, she sold only leather belts and traditional Mongolian fabric belts. In the beginning stages of her business, she rented a stall at the present market from another person who had a rental contract with the market. This was an unstable business situation for her because the middleman could dismiss her at any time. At the time her stall had 1 million MNT in working capital. Usually, it is very difficult to obtain a rental contract with Narantuul because the stalls are in such high demand.

At this time of year, it is the high shopping season, since it's new school year beginning time, so Odgerel wants to use this loan to help support her in this very busy shopping season of the year. Odgerel's business goal is to one day operate her own clothing shop. Odgerel also said, "It's my personal goal to support my mother and daughter so they can live happily."

Previous Loan Details

Odgerel is a 32-year-old single mother who lives with her daughter and mother in a small house in the outer ger (Mongolian yurt) districts of Ulaanbaatar, the capital city of Mongolia. Her mother stays at home while her daughter attends public secondary school. Odgerel started a business in 2006... More from Odgerel's previous loan »

Additional Information

About Transcapital

Transcapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.

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.

About Mongolia

  • $2,175
    Average annual income
  • 9
    View loans »
    Mongolia Loans Fundraising
  • $15,345,375
    Funds lent in using Kiva
  • 1,352.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Odgerel to purchase more clothing products to sell in order to increase her income.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 11, 2012
Listed
Aug 15, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012