Update on TemuujinMr. Temuujin, 33 years old, lives with his wife and two children in Ulaanbaatar, capital city of Mongolia. The family resides in his sister’s apartment. He makes and sells popcorn in his own small shop. He has been running this business for five consecutive years and every customer has high satisfaction with his products. His wife also runs her private business but now stays at home to care for her baby. He has got our loan four times before and repaid every loan on the established schedule. This time he is requesting a loan of 4,000,000 tugriks to expand his business by purchasing equipment. As a result, he can generate more income for his family and, in the future, he wants to produce chips. The borrower is a very reliable individual who strives for a better future.
Previous Loan DetailsTemuujin, 31, makes and sells popcorn in his own small shop, which is called “Temuujin.” He has been running this business for the past four years and has gained a good deal of experience. Temuujin lives with his two children and his wife in the boundary district of Ulaanbaatar, the capital city... More from Temuujin's previous loan »
About Credit MongolCredit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.
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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