Update on SharavdochinSharavdochin, age 43, runs a public transportation business in Ulaanbaatar, the capital city of Mongolia. After working for a public transportation company for 20 years, he decided to start a business by himself, using his own minivan. He has permission to carry passengers on one of the city’s remote bus lanes, which lacks bus services.
Sharavdochin is requesting a 2,000,000 MNT loan to purchase beef to sell. Each Mongolian family uses beef daily, so he hopes that his business will be very efficient and provide a way for lower-income families to buy meat.
His children – ages 10, 15 and 19 – attend public school, while his wife works in the book section of a department store. He aims to increase his family's income by expanding his business in the future.
Previous Loan DetailsSharavdochin, age 42, runs a public transportation business in Ulaanbaatar, the capital city of Mongolia. After working for a public transportation company for twenty years, he decided to start a business by himself, using his own minivan. He has permission to carry passengers on one of the city’... More from Sharavdochin'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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