Update on NarantuyaMrs. Narantuya, 39 years old, lives with her husband and four children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own small wooden house on fenced land. She and her husband have been rendering a taxi service to local people since 2005 and accumulated a vast amount of experience in this field.
During spring time when the graduation ceremony of university students occurs, demand for flowers and souvenirs increases drastically so she is requesting a loan of 2,500,000 MNT (Mongolian tugriks) to order the above mentioned items from China.
Narantuya, using her previous loan, has built a small barn as an extension to their house for heat preservation and paid each installment on the established schedule without delay. The borrower is a very hardworking and trustworthy individual who strives for a better future.
Previous Loan DetailsNarantuya is 38 years old and has worked as a taxi driver nonstop since 2005. Her husband is running a taxi business, too. Her family consists of six members: her husband and four children, They live in their small wooden house in the ger district, an area with no running water, minimal roads,… More from Narantuya'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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