Update on JavkhlantugsJavkhlantugs is 35 years old. He is married and lives with his mother in Ulaanbaatar, the capital city of Mongolia. For the past seven years, Javkhlantugs has been operating a local taxi service. His wife has been working in Korea on an employment contract for about three years and his daughter recently went to Korea for study. Javkhlantugs used his previous loan to purchase another automobile that he rents to other people. He works day and night so his automobile usually needs repair.
Javkhlantugs is requesting a 1,000,000 MNT loan to purchase spare automobile parts such as a bumper, alternator fan, halogen lights, and coil wires. His loan will help him to continue to provide his taxi service to local people. His updated automobile will also attract more customers to his business and increase customer satisfaction. Javkhlantugs is a very hardworking individual who strives for a better future.
Previous Loan DetailsMr. Javkhlantugs is 34 years old and lives with his mother and daughter (3) in Ulaanbaatar, the capital city of Mongolia. He has been running a taxi business since 2006. His wife works and lives in Korea and she makes phone calls to her family occasionally. Javkhlantugs has a plan to have a sm... More from Javkhlantugs'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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