Update on OdgerelOdgerel is 34 years old and lives with her mother and daughter in Ulaanbaatar, the capital city of Mongolia. Her family lives in a small house, in the outer ger (Mongolian housing tents) housing districts of the city. Odgerel’s mother is retired and stays at home, while Odgerel's daughter attends secondary school. She built her house with her business income, especially with the help from the Kiva loan.
Odgerel supports her family by operating a clothing retail stall at the largest outdoor market in Mongolia. In 2006, when she first began her business, she sold only leather belts and traditional Mongolian fabric belts. In the beginning stages of her business, she rented a stall at the present market from another person who had a rental contract with the market. This was an unstable business situation for her because the middleman could dismiss her at any time. At the time, her stall had 1 million MNT (Mongolian tugriks) in working capital. Usually, it is very difficult to obtain a rental contract with Narantuul because the stalls are in such high demand.
At this time of year, it is the one of high shopping seasons, since it's the beginning of the Tsagaan Sar holiday. Odgerel wants to use this loan to help support her inventory in this very busy shopping season of the year. Odgerel's business goal is to one day operate her own clothing shop. Odgerel also said, "It's my personal goal to support my mother and daughter so they can live happily."
Previous Loan DetailsOdgerel is 33 years old and lives with her mother and daughter in Ulaanbaatar, the capital city of Mongolia. Her family lives in a small house, in the outer ger housing districts of the city. Odgerel’s mother is retired and stays at home, while Odgerel's daughter attends secondary school. Odg... More from Odgerel'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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Success!! The loan was 100% repaid