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Update on Tumenjargal

Mrs. Tumenjargal, 36 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. She and her husband rent an autobus from a private company and the family income comes from autobus transportation. As a means of sparing some money, the family resides within company territory where other employees also live and work. Their elder son goes to secondary school and other one stays at home.

The autobus has been damaged over the years of its usage and it needs some equipment changed and updated. So, she is requesting a loan of 4100000 MNT to buy some necessary equipment. After repairing and updating their autobus, the family can work enthusiastically and improve their living standard.

Previous Loan Details

Tumenjargal is 35 years old. She lives with her husband and two children in a ger, the traditional Mongolian nomadic tent, in Ulaanbaatar, the capital city of Mongolia. Her son Ankhbayar attends a local secondary school, and her daughter is one year old. Tumenjargal has been operating a transport... More from Tumenjargal'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

  • $5,900
    Average annual income
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,398.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,950 helped Tumenjargal to buy equipment to repair her autobus.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Nov 27, 2012
Dec 9, 2012
Currency Exchange Loss:
Jul 17, 2014