Update on BayasgalanBayasgalan is a 34-year-old married woman who lives with her family in a district near Ulaanbaatar, Mongolia that lacks basic infrastructure. She supports her family by selling clothing at a stall in the largest outdoor market in Mongolia. She has been doing this for seven years and imports her clothing from Ereen, a city on the border between Mongolia and China. She also sells clothing which she makes herself. She is an ambitious lady who wants to expand her business, so she is requesting a loan for 2,500,000 MNT (Mongolian Tugriks) to buy more clothing to sell this autumn.
Previous Loan DetailsBorrower Bayasgalan is a 33-year-old married woman who lives with her family in a district without basic infrastructure near Ulaanbaatar, Mongolia. Bayasgalan supports her family, by operating a clothing retail stall business at largest outdoor market in Mongolia. She has been doing this for ... More from Bayasgalan'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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