Update on SaranchimegSaranchimeg is a 47-year-old married entrepreneur who lives with her family in a ger, a traditional Mongolian felt tent, in the outer ger district of Ulaanbaatar, Mongolia, which is an area without basic infrastructure. Her husband works at a court organization while their children attend local university and high school.
Saranchimeg has supported her family since 1999 by operating a children's clothing business and a grocery store. Currently, she sells clothes at the second largest outdoor market of Ulaanbaatar city. December is a very busy shopping month, so entrepreneurs need more products or working capital after December of each year.
Saranchimeg is requesting a 600,000 MNT loan to purchase more clothes to sell for the upcoming season in order to increase her working capital. She is a very trusted client of Transcapital Co Ltd.
Previous Loan DetailsSaranchimeg is a 46-year-old married entrepreneur who lives with her family in a ger, a traditional Mongolian felt tent, in the outer ger district of Ulaanbaatar, Mongolia, which is an area without basic infrastructure. Her husband works at a court organization while their children attend local u... More from Saranchimeg's previous loan »
About TranscapitalTranscapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.
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