Update on AriunzulMrs. Ariunzul, 40 years old, lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. The family resides in a Mongolian traditional ger (portable felt dwelling), on fenced land. She and her husband have been running a tire repair shop for seventeen consecutive years and accumulated a vast amount of experience.
She is requesting a loan of 3,000,000 MNT. She will use it to purchase equipment for tire repair, such as pumps, wheel removal tools, wrenches, and compressors, so that she can run her business without any shortage of necessary tools. The borrower is a very hardworking individual, who strives for a better future.
Previous Loan DetailsAriunzul A. is 37, married, and the mother of a three children. She and her family live together in a ger (the traditional Mongolian nomadic tent), in Ulaanbaatar, the capital city of Mongolia. Her oldest daughter, Azzaya, attends a local secondary school; her son Nyam-Erdene is 8 years old and a... More from Ariunzul'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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