Update on SarantuyaSarantuya is 45 years old lives with her husband, two children and her mother in a small house in the Huvsgul province of Mongolia. Her husband Batbayar, 47, works at a local security service company. Her mother is retired, and stays home. Her older son studies at the university in Ulaanbaatar city, the younger son goes to a local school, and her daughter is disabled and stays home with her grandmother.
The borrower has been running her traditional costume tailoring and boot manufacturing business for more than ten years. She is well-experienced and popular among her customers.
She is requesting 3,000,000MNT to purchase inventory for her boot manufacturing and costume tailoring business. She is a hardworking, responsible, and honest woman.
Previous Loan DetailsSarantuya A. is 43 years old and lives with her husband and three children in Huvsgul province, Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent. Her oldest son is a student at the university while her younger son attends elementary school. Both Sarantuya and… More from Sarantuya'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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