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Tseveen

Update on Tseveen

Mr. Tseveen is 27 years old lives with his wife and daughter in a ger (Mongolian yurt) in Uvs, a province of Mongolia. He and his wife have been running a private shoe-making company together at home, she runs the business and he is the cobbler. Their daughter Shinetsetseg is two years old and stays at home.

He was working as shoe-maker in a private shoe making company for years and he started his own home-based business as a cobbler with his wife in 2006. They are well known within the area and have built close relationships with customers. He is now requesting loan of 2,500,000 MNT to purchase inventory and change their machinery so they can run their business smoothly. The borrower and his wife both are hardworking and diligent people.

Previous Loan Details

Tseveen is 26 years old and lives with his wife and daughter in a ger, a Mongolian yurt, in the Uvs province of Mongolia. He manages a shoe-making business with the help of his wife in his town. They started their business in 2006 after working as shoemakers in a private company for severa... More from Tseveen's previous loan »

Additional Information

About XacBank

This 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.

About Mongolia

  • $2,175
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,800 helped Tseveen to purchase inventory and change their machinery so they can run their business smoothly.
88% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 2, 2012
Listed
Dec 1, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014
This photo was used before for a previous loan for Tseveen. It was first posted on Kiva on Jun, 2011. Learn More