Update on TungalagtamirTungalagtamir is 33 years old and lives with her husband and three children in Arhangai province of Mongolia. Her husband, Lkhagva, provide taxi service and his monthly income is around 300.000 MNT. Her older daughter Narmandakh, is 11, her younger daughter Naranchimeg, is 10 and her son Naranbaatar, is 4. Her two daughters go to primary school and her son goes to kindergarten. Tungalagtamir has been managing a clothes retail business since 2000. She imports clothes for 1.500.00 MNT from China once a month. She sells to local residents on a rented counter of a local trading center. She is requesting a 2.000.000 MNT loan to import warm winter clothes for seasonal sale. She is a friendly woman who plans to improve her family's living condition by renovating her old house.
Previous Loan DetailsTungalagtamir is 33 years old and lives with her husband and three children in ger (Mongolian yurt) in Arhangai province, Mongolia. Her husband is a driver, and her two oldest daughters are in school. She started her flour sales business in 2002 by renting a counter in market. Than in 2009 she… More from Tungalagtamir'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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Success!! The loan was 100% repaid