Update on TsagaanhuuMrs.Tsagaanhuu is 57 years old and lives with her husband in their ger, which is a traditional nomadic tent, in the Uvs province of Mongolia. Her five children have graduated from school and are living by themselves. Her husband, Gansuh, receives a pension from the government for his disability.
Tsagaanhuu has been serving local residents by selling a variety of clothing from her rental booth at the local market. She is a hardworking and enthusiastic woman who is now requesting 2,500,000 MNT to purchase winter clothing from Erlian, China, to sell from her rental booth.
Previous Loan DetailsTsagaanhuu is 54 and married with five children. She lives in Uvs province with her family. They live in a ger, Mongolian nomadic housing tent, on a small plot of land that they own. Tsagaanhuu’s three elder children have their own jobs and live in Ulaanbaatar, the capital of Mongolia. Her two… More from Tsagaanhuu's previous loan »
About XacBankThis 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.
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