Update on BurenjargalBurenjargal is 26 years old, married, and has two children who attend school. She lives in a small house with her family in the outer ger district of Ulaanbaatar, Mongolia. Her spouse is self-employed.
Burenjargal has worked at a few popular beauty salons in the city for three years. She operates the same salon mentioned in her previous loan and supports her family with it. Head massages, facial treatments, and eyebrow tattoos are the main services offered at her salon.
Burenjargal is requesting a loan for 1,200,000 MNT which she will use to purchase construction materials to renovate her house's fence which has become old and unsafe. "If I will finish this renovating work, I will very cozy and safe," she said.
Previous Loan DetailsBurenjargal is 25 years old, married, and has two children who attend school. She lives in a small house with her family in the outer ger district of Ulaanbaatar, Mongolia. Her spouse is self-employed. Burenjargal has worked at a few popular beauty salons in the city for three years. She… More from Burenjargal's previous loan »
About TranscapitalTranscapital 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 Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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