Update on OyuntsetsegMrs. Oyuntsetseg, 42 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. She has been running a noodle house for two years and quickly secured permanent customers due to the good location of her noodle house.
Her husband renders taxi service to local people.Their daughter studies at the university and during her free time, she helps her mother at the noodle house. Their younger child, who is five years old, goes to kindergarten.
She is requesting a loan of 2,000,000 MNT to purchase a large quantity of uncooked noodles from her suppliers. As a result, she will continue to run her noodle house without worrying about inventory shortage. She is a very hardworking individual who strives for a better future.
Previous Loan DetailsMrs. Oyuntsetseg, 41, runs a noodle house, and she has been operating it since last year. Her noodle house is located at a nearby primary school. In a day she has approximately 20-25 customers and most of them are satisfied for her made bowls of noodles. She lives with her husband and her two kid... More from Oyuntsetseg'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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