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Update on Bayasgalan

Bayasgalan is 45 years old and lives with her son in the ger district of Darkhan, the second largest city in Mongolia. Her neighborhood has minimal roads and spotty electricity. For the past three years, Bayasgalan has run a casual clothes stall in the bazaar. She buys a variety of products from Ereen, a Chinese border city, and resells them for a profit. Bayasgalan is a really hardworking woman who has gained valuable work experience. Her son is a student and has an old car that he sometimes uses to run a taxi service to help his mother.

Bayasgalan is requesting a loan from Kiva to buy more clothes to increase her inventory and sales volume. This is her second loan from Kiva. Bayasgalan's working capital has increased and her daily income has increased to 40,000 MNT. She thinks that her loan is very important to her business and her dream is to help her son get a good education.

Previous Loan Details

Bayasgalan is 45 years old and runs a casual clothes stall in the bazaar. She has been running her business for 3 years and has gained valuable experience in it. She lives with her son in the ger district, an area of Darkhan with no running water, minimal roads and spotty electricity. Darkhan is... More from Bayasgalan's previous loan »

Additional Information

About Credit Mongol

Credit 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.

About Mongolia

  • $5,900
    Average annual income
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
A loan of $1,075 helped Bayasgalan to buy more casual clothes to increase her inventory and sales volume.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 19, 2012
Nov 13, 2012
Currency Exchange Loss:
Dec 13, 2012
This photo was used before for a previous loan for Bayasgalan. It was first posted on Kiva on Jun, 2012. Learn More