Update on BayanmunhMr.Bayanmonh is 39 years old and lives with his wife and 3 children in Ger in Bayanhoshuu district of Ulaanbaatar, Mongolia. His wife Mart, age 38, has been helping with his business of traditional wrestling costume for 6 years now. His son Bayarsaihan, age19, is in military service and his daughters Batchimeg and Battsetseg, ages15 and 14 are secondary school students.
He has been in this business for the last 6 years and has already gained a lot of experience and customers over the years. He is requesting 1,200,000 MNT loan to purchase more inventory to produce more traditional wrestling costumes. He is a hardworking, modest and responsible person.
Previous Loan DetailsBayanmunh B. is 38 years old and lives with his wife and three children in the Songinohairhan district of Ulaanbaatar, the capital of Mongolia. His oldest, a son, is a monk and attends a buddhist monastery while his two younger daughters, aged 12 and 13, currently study at a secondary school. ... More from Bayanmunh's previous loan »
About XacBankThis 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.
9View loans »