Update on OdgerelOdgerel is a 41-year-old widow who lives with her two sons in a ger, a traditional Mongolian felt tent. Their ger is located in the outer ger district of Ulaanbaatar city, Mongolia, in an area without basic infrastructure. Both of her sons attend the local secondary school.
From 1994 to 2004, Odgerel operated an ice cream selling business. Since 2009, she has been operating a grocery selling business at the largest outdoor market in Mongolia. She purchases her products from other wholesale suppliers.
Spring is a high shopping season in our country, so every entrepreneur such as Odgerel needs more products to sell. For this reason, she is requesting a loan for 3,000,000 MNT (Mongolian Tugriks) to purchase grocery products to sell in her small stall. Furthermore, she wishes to expand her business and increase her working capital.
Previous Loan DetailsOdgerel is a 39-year-old widow who lives with her two sons, ages 6 and 16, in a ger, a traditional Mongolian felt tent. Their ger is located in the outer ger district of Ulaanbaatar city, Mongolia, in an area without basic infrastructure. Both of her sons attend the local secondary school. Fr... More from Odgerel'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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