Update on DavaaDavaa, 47 years old, lives with her son and daughter in the Ulaanbaatar, the capital city of Mongolia. Her husband passed away recently and she is carrying the whole burden of raising her children alone.
She has been working as a seamstress for more than 20 years, and she began working for a private company in 2003. However, she decided to quit her job when she realized that running a workshop on her own would be more profitable than working for someone else. Using her first Kiva loan, she purchased a sewing machine and began her own business.
Her business is doing well but she is currently experiencing a shortage of raw materials. She is therefore requesting a loan of 1,300,000 MNT to purchase leather in large quantities. This will help her to run her business smoothly without worrying about a shortage of raw materials. The borrower is a very hardworking individual who is striving for a better future.
Previous Loan DetailsMrs. Davaa, 45 is a seamstress in a company which makes clothes. She has been working as a seamstress for over 20 years. She started her job at this company in 2003. During the past 20 years she had made very many kinds of outfits for sale. Davaa lives with her husband and her 2 children in the… More from Davaa'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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