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Tserendolgor

Update on Tserendolgor

Tserendolgor is 46 years old and lives with her husband and four children in a ger (a traditional Mongolian housing tent), in the Uvurhangai province of Mongolia. Her husband's name is Jargalsaihan. He is 49 years old and unemployed. Her oldest daughter is a college student, two of her daughters are secondary school students and the youngest stays at home.

She started her business in 2000, and her main products are various covering materials for a Mongolian yurt. Prior to this, she had a home-based sewing business.

Since 2005, Tserendolgor has been selling her products from a rented room in a "business development center" of Uvurhangai province. She is well-experienced in this sector, with many years in the sewing business, and has many regular suppliers and customers. The local residents identify her as an honest and hardworking woman.

Tserendolgor is requesting a 2,200,000 MNT loan. With half the loan she wants to pay for her daughter's tuition fees and with the rest she will purchase raw materials for her sewing business. She says "My efficiency and profit will increase with this investment in the business and this will improve my life".

Previous Loan Details

Tserendolgor S. is a 44-year old married woman with four children. She and her family live together in a ger (a traditional Mongolian housing tent) in Uvurhangai province of central Mongolia. Her oldest child attends the university. Her two daughters study at a local secondary school. Both her hu... More from Tserendolgor's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.

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
  • $15,401,550
    Funds lent in using Kiva
  • 1,375.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,600 helped Tserendolgor to purchase raw materials for her sewing business and to pay for her daughter's tuition fees.
93% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 27, 2012
Listed
Sep 15, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013
This photo was used before for a previous loan for Tserendolgor. It was first posted on Kiva on Sep, 2010. Learn More