Update on TserendolgorTserendolgor 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 DetailsTserendolgor 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… More from Tserendolgor's previous loan »
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 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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- Repayment Term
- 26 months (Additional Information)
- Repayment Schedule
- Aug 27, 2012
- Sep 15, 2012
- Currency Exchange Loss:
- Nov 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.