Update on TumenbayarBorrower Tumenbayar is a 44-year-old widow who has two daughters and lives in Ulaanbaatar, the capital of Mongolia. She has higher education in both accounting and nutrition technology. Her youngest daughter attends the Royal Academy in Mongolia, while her eldest daughter helps Tumenbayar to run her business.
Regardless of her profession, she has had six years of experience in her own grocery and home furnishing store, until she went to South Korea for five years for a higher-paying job. After she came back from S. Korea in 2010, she continued her small grocery store business.
Tumenbayar is requesting a 3,900,000 MNT (Mongolian tugriks) loan to buy more merchandise for the grocery store. Her goal is to improve her business in order to increase her working capital and expand her business as well.
This is her third Kiva loan. She is really thankful and appreciative of the Kiva lenders.
Previous Loan DetailsBorrower Tumenbayar is a 43-year-old widow who has two daughters and lives in Ulaanbaatar, the capital of Mongolia. She has higher education in both accounting and nutrition technology. Her younger daughter attends the Royal academy in Mongolia, while her elder daughter helps her to operate the b... More from Tumenbayar'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.
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Success!! The loan was 100% repaid