Update on NarantsetsegMrs. Narantsetseg, 52 years old, lives with her husband and son in Ulaanbaatar, the capital city of Mongolia. The family resides in an old house on a plot of land. She has been working as a watchman in a public apartment. Her husband renders taxi service to the local community. Their son has advanced to the third level in defense college. She is requesting a loan of 2,500,000 MNT to pay her son's tuition fees. She and her husband think that the best thing they can do for their son is to invest in their son's education. Mrs. Narantsetseg is a very hardworking individual who strives for better future.
Previous Loan DetailsMrs. Narantsetseg, 50, works as a watchman in the common apartment. Her husband, Galbadrakh, is a taxi driver and he makes crafts and sells them to the customers in the bazaar for extra earnings. Narantsetseg lives with her family in an old house which was built many years ago. The house has a… More from Narantsetseg'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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