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Narangerel

Update on Narangerel

Mrs. Narangerel is 33 years old lives with her husband and 3 children in a traditional nomadic yurt in Arhangai province, Mongolia. Her husband Monhbold sells firewood and charcoal in local market. Her older 2 children study at local schools and youngest daughter goes to local kindergarten.
Narangerel has been running small meat products sales business in local market since 2003 with her husband. In order to increase family income her husband started firewood and charcoal retail business. She is now requesting loan of 3,000,000MNT to purchase large amount of meat products from herders and sell at her counter to local residents. She is hardworking and diligent woman.

Previous Loan Details

Mrs. Narangerel is 32 years old. She lives with her husband and three children in a ger (a Mongolian housing tent) in Arhangai province, Mongolia. Her husband, Munhbold, is 32 years old. He is running a business that sells firewood. Her older sons Baasansuren and Munhbold are aged 9 and 7. They a... More from Narangerel'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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,727.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,750 helped Narangerel to purchase a large amount of meat products from herders and sell at her counter to local residents.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 29, 2013
Listed
Nov 29, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 7, 2015
This photo was used before for a previous loan for Narangerel. It was first posted on Kiva on Sep, 2012. Learn More