Mandakh's Buleg Group
Update on Mandakh's Buleg GroupMandakh is a 57-year-old married woman who has two children who are 24 and 28 years old. Her family lives in their own 'ger', a traditional Mongolian felt tent, which is located in the outer 'ger' district of Ulaanbaatar city, Mongolia.
She has been supporting her family by operating a felt manufacturing business since 2004. She usually sews felt sandals and souvenirs and sells them at a local indoor market. During the summertime there are many tourists in Mongolia and they are really overjoyed to buy traditional felt souvenirs and sandals.
Mandakh wants to expand her business in order to increase her working capital during the tourist season in Mongolia. So she is requesting a 1,000,000 MNT (Mongolian Tugriks) loan to purchase raw materials to make more products.
Previous Loan DetailsMandakh is a 56-year-old married woman who has two children, who are 23 and 27 years old. Her family lives in their own 'ger', a traditional Mongolian felt tent, which is located in the outer 'ger' district of Ulaanbaatar city, Mongolia. Mandakh has been supporting her family by operating a f... More from Mandakh's Buleg Group'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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid