Update on AdyajavMrs. Adyajav, 40 years old, lives with her husband, two children and brother in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a fenced lot. Her husband and brother produce and sell expense invoices at large trade centers. Her elder son, who has an eye disability, receives a state pension, and her younger son goes to secondary school.
Adyajav used her previous loan to open a grocery store which has attracted quite a number of customers. Previously, she had been rendering a taxi service to local people. Because she is facing an inventory shortage, Adyajav is requesting a loan of 2000000 MNT to purchase foodstuffs such as rice and flour.
The borrower is one of the most trustworthy clients of our organization, paying each installment on her debt according to the established schedule.
Previous Loan DetailsAdyajav is 39 years old and lives with her husband and two children in a ger, a traditional Mongolian nomadic tent. She lives in Ulaanbaatar, the capital city of Mongolia. Adyajav's two sons attend local secondary school and her husband delivers stationery to vendors who operate market stalls. Fo... More from Adyajav'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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