Update on EnkhchimegEnkhchimeg, 37 years old, lives with her husband and two children in Ulaanbaatar, the capital city of Mongolia. Her husband renders taxi service to local people. Using her previous loan, she launched her household appliance sales business two years ago. Before running her own business, she had worked as an accountant for 10 years. Now she is requesting a loan of 4,000,000 MNT to buy goods from China at wholesale prices. During this time of year, demand for household appliances increases due to the new year holiday so she wants to continue to sell goods without worrying about inventory shortage. The borrower is a very hard-working individual who strives for better future.
Previous Loan DetailsEnkhchimeg, 35, lives with her husband and her three-year-old son in Ulaanbaatar, the capital city of Mongolia. She has been working as an accountant in a home furnishing store since 2005.
Enkhchimeg would like to start her own retail business selling merchandise like household commodities.... More from Enkhchimeg'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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