Update on AnkhzayaMrs. Ankhzaya, 28 years old, lives with her husband and son in Ulaanbaatar, Mongolia. She and her husband have operated a printing business for the last five years. The business has been stabilized and attracted quite a number of customers. She is requesting a loan of 4500000 MNT to purchase an automobile which runs on natural gas. As a result, the automobile she is purchasing will be used for transportation purposes of printing materials. Ankhzaya has gotten a loan from our organization before and paid it back on the established schedule. She is one of our most reliable and trustworthy clients. Most importantly the automobile which runs on natural gas emits less exhaust thus contributing to the efforts against air pollution.
Previous Loan DetailsAnkhzaya again needs to renovate her printing machines and add to their number, due to many orders. Lately, she has had a high work load and the number of customers has increased in the last several months. Therefore, she is taking a loan to purchase new Xerox printing machines for equipment… More from Ankhzaya's previous loan »
More information about this loan
This loan is part of Credit Mongol's green loan program, which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
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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