Update on NatsadorjMr. Natsadorj, 46 years old, lives with his wife in Ulaanbaatar, capital city of Mongolia. He and his wife have been running a grocery store for three years and during this time they have amassed vast amount of experience even learning to record their balance sheet. Their daughter studies in Korea. He is requesting a loan of 4000000 MNT to buy food stuffs in large amounts from his supplier at wholesale price. As a result, he can continue to run his business without worrying about inventory shortage. This business is the main income source of his family as he sold hold his internet cafe for not running well.
Previous Loan DetailsMr. Natsagdorj, 46, lives with his wife in Ulaanbaatar, the capital city of Mongolia. The family resides in their own apartment. Their daughter has been studying at university for two years in Korea. The family's main income comes from a food store and internet café; both businesses were started ... More from Natsadorj'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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