Update on UlamnemehUlamnemeh is 59 years old and lives with his wife and two children in small house in Zavhan province, Mongolia. His wife, Altantsetseg, is 59 years old and has run a catering business since 2009. His son, Enhbold, is 28 years old and works in private company, and his daughter, Shurenerdene, is a college student.
Ulamnemeh has been fishing since he was little boy with his father. He started producing smoked fish and his wife also sells his smoked fish. He is a hardworking and diligent person who says, "I want my younger daughter to graduate university and obtain better education to live better life."
He is asking 3,000,000 MNT to cover his daughter's tuition and other school-related expenses.
Previous Loan DetailsUlamnemeh is 58 years old and lives with his wife and four children in a ger (Mongolian yurt) in Zavhan Province, Mongolia. His wife helps with income from her business, their eldest three children are employed, and the youngest one is a college student. Ulamnemeh started his food-cart business… More from Ulamnemeh'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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