Update on MungunzulMungunzul, 33, is married and lives with her husband and daughter, age 11, in Ulaanbaatar, the capital city of Mongolia. The family lives in a 'ger', a traditional Mongolian felt tent, in the backyard of her husband’s workplace. Her daughter goes to primary school.
Mungunzul helps support her family by operating a retail stall at the second largest outdoor market of the city. She sells bags, wallets and remembrances. She purchases her products from Ereen, a border city in China.
When she first began her business in 2010, she had 1,000,000 Mongolian Tugriks (MNT) in working capital, but she has since expanded it to 2,700,000 MNT in working capital. She is applying for a loan of 1,000,000 MNT to buy more products to sell to her customers before “New Year”.
Previous Loan DetailsMungunzul, 31, is married and lives with her husband and daughter, aged 9, in Ulaanbaatar, the capital city of Mongolia. The family lives in a 'ger', a traditional Mongolian felt tent, in the backyard of her husband’s workplace. Her daughter goes to primary school. Mungunzul helps support he... More from Mungunzul'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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