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Tuvshinbat

Update on Tuvshinbat

Mr.Tuvshinbat is 23 years old and lives with his father in a small house in the Bayanhoshuu area of Ulaanbaatar, Mongolia. He has started providing professional photography services to local residents since he learned all those photography techniques from his father. He has been operating his business successfully for a while, but he needs additional tools to continue providing his business as a complete service. He is now requesting 3,000,000 MNT to purchase photography service tools to continue providing his business. He is a hardworking, enthusiastic and talented man.

Previous Loan Details

Mr.Tuvshinbat is 23 years old and lives with his father in a small house in the Bayanhoshuu area of Ulaanbaatar, Mongolia. His father has been running a photography service business in town since 2007. He used to help his father and he learned so much from his father. He has been operating the ph... More from Tuvshinbat's previous loan »

Additional Information

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

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.

About Mongolia

  • $2,175
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,672.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,800 helped Tuvshinbat to purchase photography service tools to continue providing his business.
99% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 18, 2013
Listed
Oct 25, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 1, 2014
This photo was used before for a previous loan for Tuvshinbat. It was first posted on Kiva on Jul, 2013. Learn More