Update on OyunbayarMrs. Oyunbayar, 53 years old, lives with her only daughter in Darkhan, the second largest city in Mongolia. She has been teaching at a local health science university for 31 years and is renowned for her extraordinary teaching ability. In 2010, she began to run a pharmacy near her home in order to generate more income. Her daughter helps her to operate the pharmacy.
Mrs. Oyunbayar is requesting a loan of 2,000,000 tugriks (MNT) to purchase medicine in large volume. As a result, she can continue to run the pharmacy without worrying about inventory shortage. The borrower is a very hardworking individual who deeply cares for her only daughter.
Previous Loan DetailsMrs.Oyunbayar is a 52-year-old widow who lives with her only daughter in a one-room apartment in Darkhan, the second-largest city in Mongolia. She has worked as a teacher in a local health sciences university for 30 years. Since 2010, she has been managing a small pharmacy near to her home in order… More from Oyunbayar'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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