Update on KhishigsurenMrs. Khishigsuren, 36 years old, lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. The family resides in their own house on a plot of land.
Khishigsuren has been running her bakery shop since 2007, and has secured permanent clients and accumulated a vast amount of experience. In addition to her original bakery shop, there is another one that she owns which is not connected to the main sewerage system. Being separated from water has reduced this shop's efficiency due to the necessity of having to transport water from a great distance. It has also had a bad effect on the immediate environment due to soil deterioration from gray water and chemicals.
Khishigsuren is therefore requesting a loan of 3000000 MNT to cover the cost of connecting her second bakery shop to the main sewerage line. The borrower is a very hardworking individual who strives for a better future.
Previous Loan DetailsMrs. Khishigsuren, 35, runs a bakery shop in Ulaanbaatar, the capital city of Mongolia. Her cakes and baked goods are delivered to the grocery stories and shopping malls in the city. She has been operating her business since 2007 and initially started it with just two staff members. She lives with… More from Khishigsuren's previous loan »
More information about this loan
This loan is part of Credit Mongol's green loan program, which helps clients to gain access to electricity through solar panel kits, as well as other products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.
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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