Update on UrjinsurenUrjinsuren is 49 years old and lives with her husband in Uvurhangai province, Mongolia. Her husband, Dambiinyam, is retired and also helps her business.
She has been operating a grocery store since 2003, starting with a rental counter at the local market, and she expanded her business by building her own workplace for the grocery store.
She is planning to open a billiard playing place for local customers. She needs to purchase construction materials to decorate the billiard room and also billiard tables.
Urjinsuren is a hardworking, responsible and honest woman who needs 3,000,000,MNT to purchase billiard tables and construction materials for her newly starting billiard-playing place.
Previous Loan DetailsUrjinsuren is 48 years old and lives with her husband in a ger (a Mongolian yurt or tent) in Uvurhangai province, Mongolia. Her husband is a sick old man who stays at home. She started her business journey in 2003 by renting a counter in a market to sell groceries. Now she has built a small s... More from Urjinsuren's previous loan »
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
- 16 months (Additional Information)
- Repayment Schedule
- Oct 18, 2012
- Nov 8, 2012
- Currency Exchange Loss:
- Jan 17, 2014
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.