Update on TumenbayarThis is Tumenbayar. She is 54 years old, a mother of three children and also a good wife. Her elder daughters work out of the city while she lives with her spouse and son, who attends a local high school.
Tumenbayar supports her family by writing and selling books. She wrote about 10 books before. She usually writes historical and fictional books for children. Most of her customers are kids who love to read books. With the previous loan, she published the book is called “Golden Coin of Queen Durgunu”, and all her books are sold.
She needs to publish more books, which she will sell at local indoor book stores in UB city. Thus, she is requesting a 3,000,000 Mongolian Tugriks (MNT) loan to publish books.
“When sometimes I take too long to publish my books, children often ask from booksellers: when the next book will be ready to sell? Then booksellers ask me that question. In that moment I become really happy and get more energy from those words,” she said from the heart.
Previous Loan DetailsThis is Tumenbayar. She is 53 years old, a mother of three children and also a good wife. Her elder daughters work out of the city while she lives with her spouse and son who attends local high school. She supports her family by writing and selling books. She wrote about 10 books before. Usua... More from Tumenbayar's previous loan »
About TranscapitalTranscapital is one of the leading non-bank financial institutions (NBFI) in Mongolia. Through 12 branches, it serves mainly urban and semi-urban microfinance clients, including a growing number of migrants in the capital city of Ulaanbaatar. Of its clients, almost 68% are women and 60% live in ger districts, settlements made up of houses and traditional Mongolian felt tents that lack basic infrastructure.
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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Success!! The loan was 100% repaid