Update on NyambayarMr. Nyambayar is 25 years old and lives with his wife in Darkhan, the second largest city in Mongolia. The couple rents an apartment where he, together with his wife, runs a computer spare parts sales business. They have run their business since 2011 and a lot of people have come to recognize their high quality service. Before this business, he used to work as a loan officer at a bank.
Nyambayar has recently purchased land in another city and wants to build a fence surrounding his land. He is requesting a loan of 2000000 MNT to purchase planks, nails, and an available gate. In the future, he is willing to build his own house on his land. The borrower is a very hardworking individual who is improving his life with each passing day.
Previous Loan DetailsNyambayar, 25, lives with his wife in Darkhan, the second largest city in Mongolia. The family rents an apartment where they run their computer business. His wife sells spare computer parts to local people while he himself renders computer repair and programming services in remote districts. Due to… More from Nyambayar'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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