Update on BuyannemehBuyannemeh is 43 years old and lives with her husband and 3 sons in a ger (a traditional Mongolian felt tent) in the Uvs province of Mongolia. Her husband, Purvee, and her older son, Gunchin, provide transportation services. Her younger sons, Davaahuu and Otgonhuu, are students in a specialty training school.
She has been running her cobbler business in her home since 2006, and she has built close relationships with customers and suppliers over the years. She is now requesting 1,000,000 MNT to purchase inventory to fill one big order from a regular customer (a retailer). She is a hardworking and diligent woman.
Previous Loan DetailsBuyannemeh T., 41 years old, lives with her husband and three children in the Uvs province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic home tent and fence. Her oldest two children both attend a vocational training school and her youngest son attends a l... More from Buyannemeh's previous loan »
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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Success!! The loan was 100% repaid