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Davaasambuu

Update on Davaasambuu

Davaasambuu is 50 years old and the father of three children. He lives with his two daughters and wife in Ulaanbaatar, the capital of Mongolia. They live together in a small house on their land. Davaasambuu’s oldest son lives separately from the family and the youngest two daughters attend a university.

For many years, Davaasambuu worked at a contract company as a sanitation truck driver. However, since 2001, he has been running a furniture-making business. His wife works with him. They refurbish old wooden furniture and sell it at Narantuul market, the largest outdoor market in Ulaanbaatar. Over the years, Davaasambuu has gained a great deal of experience and has been able to purchase a house, land, and a small family car.

Davaasambuu is requesting a loan to purchase another automobile as his previous car can’t adjust to the delivery service. This will be his fourth loan through Credit Mongol and he is one of the most reliable customers. Davaasambuu is a very hardworking person with a strong will and making delivery services using her new car will certainly increase customer satisfaction greatly.

Previous Loan Details

Davaasambuu is 49 years old and the father of three children. He lives with his two daughters and wife in Ulaanbaatar, the capital of Mongolia. They live together in a small house on their land. Davaasambuu’s oldest son lives separately from the family and the youngest two daughters attend a uni... More from Davaasambuu'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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,875 helped Davaasambuu to purchase a new automobile.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 15, 2012
Listed
Dec 6, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014