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Sergelen

Update on Sergelen

Mrs. Sergelen is 38 years old and lives with her husband and three children in a small house in Huvsgul province, Mongolia. Her husband, Batbuyant, is 50 years old. Her older daughter, Norow, is a college student. Her next daughter, Bayanzul, is 19 years old. She is a college student. Her youngest daughter, Saruulbuyan, is 13 years old. She is a secondary school student.

Sergelen started her business as a meat seller at a rental counter in local market in 2001 together with her husband. Since 2009 she started to operate an organic dairy products business. In 2012 she graduated from a training course for making organic dairy products. She is planning to repair her house to make a work place to prepare organic dairy products. She has been well-experienced, and a hardworking person. She needs 5,100,000 MNT to buy more organic milk from the countryside.

Previous Loan Details

Sergelen is 37 years old and lives with her husband and three kids in a ger (Mongolian yurt) in Huvsgul province, Mongolia. One of her kids is a school student and the other two kids are in college. Sergelen has a meat retailing business that her husband helps with. Sergelen started the busin... More from Sergelen's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

About XacBank

This 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.

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,775 helped Sergelen to buy more organic milk from the countryside.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 27, 2012
Listed
Aug 23, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2013