Update on BatbayarBatbayar is 45 years old, married, and has one child who attends school. She lives in Ulaanbaatar, the capital of Mongolia. The family resides in their own house on plot of land. In 2010, her husband purchased a truck for transportation purpose.
For three years, Batbayar has been selling coal at retail prices by purchasing coal at wholesale prices from the outdoor market. She is requesting a loan for 1,200,000 MNT, which she will use to rent a grocery stall at the trade center. This new business will contribute to her family's income generation. Because the trade center is in a residential area, a lot of people will pass the grocery stall each day.
Previous Loan DetailsBatbayar, 44, sells coal in the street for use as fuel. She lives in the ger (a Mongolian traditional nomadic tent) district, with her family. Batbayar has been running her business since 2010, and has many permanent customers. She is taking a loan to purchase a motorcycle for her business.... More from Batbayar's previous loan »
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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