Update on BatbayarBatbayar, 31 years old, has been running a taxi service for 3 years. He lives with his 2 children and wife. His wife is a bus conductor, and his older son attends secondary school. The family lives in a ger, a nomadic tent, on a small piece of land near a mountain peak. It is a very difficult and dangerous place for them to live, especially in winter.
Therefore, Batbayar is planning to replace his land with a better location near downtown so that his family can live in a safe environment. Batbayar plans to use this loan to help pay for the land. Now, his family is living on a friend's land. In the future, he wants to build a wooden house.
Previous Loan DetailsMr. Batbayar is 30 years old. He lives with his wife and two children, ages 12 and 1, in Ulaanbaatar, the capital city of Mongolia. His wife looks after the baby at the moment. Until 2008, Batbayar worked in a textile factory, but he left due to job cuts. Since then, he has been running a taxi… More from Batbayar's previous loan »
About Credit MongolCredit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.
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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