Update on ChimgeeChimgee is a 36-year-old married lady who lives with her family in Ulaanbaatar, the capital city of Mongolia. They live in a ger, a traditional Mongolian felt tent, in the outer ger district (a district without basic infrastructure). Chimgee’s son and daughters are both secondary-school pupils.
Chimgee supports her family by operating a retail clothing stall at the largest indoor market in Mongolia. When she first began her business in 2008, Chimgee had 800,000 MNT (Mongolian tugriks) in working capital. Today, her business has grown, and she has about 11,000,000 MNT in working capital.
Chimgee sells jeans and trousers. “I really appreciate the Kiva loan, because it helps entrepreneurs to increase their working capital and improve their business and also their living conditions, so I'm applying [for a] Kiva loan again” she says.
Chimgee is requesting a loan of 4,000,000 MNT to increase the variety of jeans and trousers she sells because, as she says, "it’s the time of high shopping season in Mongolia."
Previous Loan DetailsChimgee is a 35 year-old married lady who lives with her family in Ulaanbaatar, the capital city of Mongolia. They live in a ger, traditional Mongolian felt tent in the outer 'ger' district (a district without basic infrastructure). Chimgee’s son and daughters are both secondary school pupils.… More from Chimgee'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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