Update on ShinehuuMrs.Shinehuu is 53 years old and lives with her daughter in a ger, a Mongolian nomadic housing tent in the district of Ulaanbaatar in Mongolia. Her daughter, age 20, studies at the university and works part-time at a beauty salon. Her older children are married and live on their own. Shinehuu has been working at a state-owned company for years and she started her tailoring business in 2009. She rents a place and gets orders from her customers. She has built close relationships with her customers and suppliers over the years. She is now requesting 1,500,000 MNT to cover her daughter's university tuition and other expenses. She is a hardworking, responsible and well-experienced woman.
Previous Loan DetailsShinehuu, 52, is divorced and lives with her daughter in Ulaanbaatar, the capital of Mongolia. Her two older children got married and she lives in a ger, a Mongolian nomadic housing tent, in her son's backyard. Shinehuu came to live in Ulaanbaatar in 2009 and began operating a tailor shop. Sh... More from Shinehuu's previous loan »
More information about this loan
This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.
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.
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