Update on BatbaatarBatbaatar is 36 years old and lives with his wife and two children in a ger in the Zavhan province of Mongolia. His wife, Bayasgalan, helps her husband to run their family shoe-making business from home and she has started a clothes retail business at a rental counter in the local market. Batbaatar's daughter Nandintsetseg and his son Batnairamdal go to local schools. Batbaatar has been running his cobbling business at home since 2004. He has built a closer relationship with his customers and suppliers over the years and is well-known in town with his good-quality and well-designed shoes.
Batbaatar is now requesting a loan of 1,400,000 MNT to purchase a large amount of materials to produce more shoes to sell to local customers. He and his wife both are hardworking, diligent people.
Picture of the borrower is taken in his wife's clothes retail at local market.
Previous Loan DetailsBatbaatar is 34 years old and lives with his wife and two children, ages 7 and 15, in a ger, a Mongolian traditional nomadic housing tent, in Zavhan province of Mongolia. His two children both attend local secondary school while his wife helps with the family shoe-making business. Batbaatar… More from Batbaatar's previous loan »
About XacBankThis loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.
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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