Update on AltanzagasAltanzagas lives with her husband in Ulaanbaatar, the capital city of Mongolia. Her step-daughter currently lives with them. Using her previous loan, Altanzagas finished her house renovation completely.
Now Altanzagas is requesting a loan of 4,000,000 MNT to buy an electric car for transportation purposes. The advantage of an electric car is that it contributes to cleaner air in cities because it emits harmless pollutants into the air and wastes less fuel. This borrower will be using the car for small furniture transportation purposes.
Previous Loan DetailsAltanzagas, 36, lives with her husband in Ulaanbaatar, the capital city of Mongolia. Her husband has a daughter who lives with her grandparents. Altanzagas and her husband reside in their own house on a plot of land. She has been purchasing and selling furniture to local people at a trade… More from Altanzagas'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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