Update on BolormaaBolormaa is 49 years old and the mother of three children. She still lives in a suburb of Ulaanbaatar city, Mongolia. Also, her spouse still works in Korea by governmental labor contract. Her previous loan was used to start her business.
Mongolia has 4 seasons and they are very unpredictable. In winter especially, the weather is very cold: it hits -40C. Now her grocery store's heating system is frozen and she wants to renovate it. So she is requesting a 3,000,000 MNT loan to renovate her store's heating system.
Previous Loan DetailsBolormaa is 49 years old and the mother of three children. She lives in a suburb of Ulaanbaatar city, Mongolia. Her spouse works in Korea by governmental labor contract. In 2011, Bolormaa operated a grocery store but her mother became very sick and she stopped her business for a while. No... More from Bolormaa'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