Update on TuvshinboldTuvshinbold is 29 years old and lives with his wife and 4-year-old daughter in their house in Ulaanbaatar, the capital.
During the last two years Tuvshinbold has been doing a plumbing job on call and running a taxi business. His wife has been working as a planning officer in a cashmere factory. Last winter, Tuvshinbold insulated the walls of his house by taking a loan. He repaid the loan in October. Tuvshinbold thanks Kiva lenders, for his family has improved their living conditions and are ready to face the winter.
This time Tuvshinbold is requesting a loan to build a garage. By building a garage Tuvshinbold can prevent his car from breaking down due to the cold.
Previous Loan DetailsMr. Tuvshinbold is 28 years old and lives with his wife, mother-in-law and dog (a German shepherd) in Ulaanbaatar, the capital city of Mongolia. They live in a family house which Tuvshinbold built last year. His wife Bayannuur, 26, works in a Cashmere factory as a planning officer. Mr. Tuvshinb... More from Tuvshinbold's previous loan »
About Credit MongolCredit 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.
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