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Davaasuren

Update on Davaasuren

Davaasuren, 30 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. The family resides in a rental apartment. She has been running a pay toilet business at a bus station for four years. Her eldest son, 9 years old, goes to secondary school and the other one stays at home.

Her husband has been running a taxi service for five years. The automobile which is used for the taxi service has become obsolete and needs updating. So she is requesting a loan of 3,500,000 MNT to buy a new automobile. As a result, it will enable the family to generate more income, and she has the goal of building their own house in the future.

Previous Loan Details

Davaasuren's husband earns a living by driving a taxi, but recently his vehicle was damaged and he is no longer able to use it to generate an income. She is applying for this loan to cover the cost of renovating her husband's taxi so that he can go back to work. More from Davaasuren'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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,398.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,525 helped Davaasuren to buy a new automobile for her husband's taxi service.
90% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 20, 2012
Listed
Dec 9, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014