Update on TsetsegeeMrs. Tsetsegee, 64 years old, lives with her husband, daughter, and granddaughter in Ulaanbaatar, capital city of Mongolia.
She has been transporting people using her minivan since 2001. Her husband has retired from work and gets a state pension. Her daughter has a position as traffic regulator at the bus station. Her granddaughter studies at a university.
Tsetsegee is requesting a loan of MNT 2,000,000 to pay her granddaughter's tuition fee. The borrower thinks investment in education is the best thing she can do for her granddaughter.
Previous Loan DetailsMrs.Tsetsegee is a 62-year-old transport driver. She lives with her husband, daughter and her niece in Ulaanbaatar – the capital city of Mongolia. This year, her niece is going to enter college. Tsetsegee’s profession is an auto mechanic and she has worked in her profession for 20 years in a… More from Tsetsegee'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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